The document discusses the key concepts of offer and acceptance in contract law. It defines an offer as a proposal made by one party to another to enter into a legally binding agreement. For a valid offer, the terms must be definite, unambiguous and certain. An offer becomes a promise once it is accepted by the offeree. Acceptance must be absolute and unconditional, communicated to the offeror according to the prescribed mode, and given within a reasonable time period. An offer lapses if it is revoked by the offeror before acceptance, or under other conditions such as the death of the offeror. Communication of offer, acceptance and revocation is also explained.

1. RENU VERMA
1
OFFER
AND
ACCEPTANCE

2. OFFER
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2
 AN OFFER IS A PROPOSAL BY ONE PARTY TO
ANOTHER TO ENTER INTO A LEGALLY BINDING
AGREEMENT WITH HIM.
 When one person signifies to another his willingness
to do or to abstain from doing anything, with a view
to obtaining the assent of that other to such act or
abstinence, he is said to make a proposal

3. OFFER
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 When the person to whom the proposal is made,
signifies his assent thereto, the proposal is said to be
accepted. A proposal, when accepted, becomes a
promise.
 The person making the proposal/offer is called the
"promisor“, proposer, offeror, and the person to
whom it is made is called the offeree or proposee.
The person accepting the proposal is called
"promisee“ or acceptor.

4. OFFER
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 May be by express words, spoken or written.
Express offer.
 May also be implied from the conduct of the
parties or the circumstances of the case.
Implied offer.
 When made to a definite person – specific
offer. Only that person can accept.
 When made to the world at large – general
offer. Any person/s may accept.

5. RULES IN REGARD TO OFFER
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 SHOULD BE CAPABLE OF BEING ACCEPTED
 TERMS MUST BE DEFINITE, UNAMBIGUOUS (HAVING ONLY
ONE MEANING) AND CERTAIN AND NOT LOOSE AND VAGUE
(NOT CERTAIN OR DEFINITE).
 IS NOT
 A DECLARATION OF INTENTION AND AN ANNOUNCEMENT
 AN INVITATION TO MAKE AN OFFER OR DO BUSINESS
 NEWS PAPER ADVERTISEMENTS
 STATEMENT OF PRICE
 TENDERS
 MUST BE COMMUNICATED
 MUST BE MADE WITH AN INTERNTION OF OBTAINING THE
ASSENT
 SHOULD NOT CONTAIN A TERM THE NON-COMPLIANCE OF
WHICH MAY BE ASSUMED TO AMOUNT TO ACCEPTANCE

6. ACCEPTANCE
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CONTRACT EMERGES FROM
THE ACCEPTANCE OF AN
OFFER
IS AN ACT OF ASSENTING TO
THE OFFER BY THE OFFEREE
MAY AGAIN BE IMPLIED OR
EXPRESSED

7. WHO CAN ACCEPT?
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 PARTICULAR OFFER / SPECIFIC
OFFER -- BY HIM ALONE
 GERERAL OFFER – ANY PERSON
TO WHOM THE OFFER IS MADE
MAY ACCEPT IT

8. LEGAL RULES
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 MUST BE ABSOLUTE AND UNQUALIFIED
 MUST BE COMMUNICATED TO THE OFFEROR
 MUST BE ACCORDING TO THE MODE PRESCRIBED
OR USUAL AND RESONABLE MODE
 MUST BE GIVEN WITHIN A REASONABLE TIME
 CANNOT PRECEDE AN OFFER
 MUST SHOW AN INTENTION TO ABIDE BY THE
OFFER
 MUST BE GIVEN BY WHO WAS OFFERED
 MUST BE GIVEN BEFORE THE OFFER GETS
LAPSED OR WITHDRAWN
 CANNOT BE IMPLIED FROM SILENCE

9. COMMUNICATION
OF
OFFER,
ACCEPTANCE AND
REVOCATION
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10. RENU VERMA
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COF – COMPLETE – COMES TO THE KNOWLEDGE
OF THE PERSON TO WHOM IT IS MADE
COA – COMPLETE
PROPOSER – WHEN IT IS PUT INTO A
COURSE OF TRANSMISSION TO HIM, SO AS TO
BE OUT OF THE POWER OF THE ACCEPTOR
ACCEPTOR – WHEN IT COMES TO THE
KNOWLEDGE OF THE PROPOSER
COR – COMPLETE
WHO MAKES IT – WHEN IT IS PUT INTO A
COURSE OF TRANSMISSION TO THE PERSON TO
WHOM IT IS MADE, SO AS TO BE OUT OF THE
POWER OF THE PERSON WHO MAKES IT
TO WHOM IT IS MADE – WHEN IT COMES TO
HIS KNOWLEDGE

11. COMMUNICATION OF OFFER
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12. COMMUNICATION OF ACCEPTANCE
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XO – A
30TH -- COMPLETE FOR Y
POST AFTER 21 ST -- COMPLETE FOR X
YA - A
21 ST

13. REVOCATION
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 TAKING BACK, RECALLING OR
WITHDRAWAL
 MAY BE FOR OFFER OR
ACCEPTANCE

14. COR - OFFER
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•XO – R
•5TH
AFTER 5TH
•6TH TO
19TH
POST
•YA – R
•20TH
AFTER 20TH
WHEN LETTER
REACHES

15. COR - ACCEPTANCE
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16. WHEN OFFER COMES TO END :-
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 REVOCATION OR LAPSE
 BY COMMUNICATION OF NOTICE OF REVOCATION,
BEFORE ACCEPTANCE IS COMPLETE
 BY LAPSE OF TIME / REASONABLE TIME
 BY NON-FULFILMENT BY THE OFFEREE OF A
CONDITION PRECEDENT
 BY DEATH OR INSANITY OF THE OFFEROR
 COUNTER OFFER
 IF NOT ACCEPTED ACCORDING TO PRESCRIBED OR
USUAL MODE
 CHANGE IN LAW

17. RENU VERMA 17