This document discusses offer and acceptance in contract law. It defines key terms like offeror, offeree, and defines an offer as an expression of willingness to contract on certain terms with the intention of becoming binding upon acceptance. It notes that for a contract to be valid it requires an offer and acceptance. It outlines the requirements for a valid offer and acceptance to form a binding contract, including things like the offer being communicated, common intention of parties, defined terms, and acceptance being absolute and within a reasonable timeframe. It also discusses how an offer can be terminated by refusal, lapse of time, revocation or the acceptance forming a contract.

1. Offer & AcceptanceThe Indian Contract Act 1872

2. Contract Legal aspect Lawful Consideration + Contract Offer Acceptance

4. Genuine assent (Free Consent)

5. Legality

6. Consideration

7. Capacity

9. Offer & Acceptance Offeror – one who makes the offer Offeree – the one whom it is made to. Terms must be definite and accepted without change by the party to whom it was intended to be offered. Without offer and acceptance the courts would not have an agreement that could be enforced. `

10. Offer An Offer is : An expression of willingness to contract on certain terms, made with the intention that it shall become binding as soon as it is accepted by the person to whom it is addressed.

11. Offers require verbalorwritten acceptance (forming what are known as bilateral contracts), with the general offers the performance of some act may be valid acceptance (forming a unilateral contract) An offer may be: q Express – either verbal or written, or q Implied – from conduct or circumstances. Sometimes, nothing is said at all but an offer is obvious from the actions.

13. There must be a common intention

14. There should be a reference to the legal relations between parties.

15. Terms must be complete and defined clearly

16. Preliminary negotiations should be done to avoid cross offer.

18. Death of the either of party

19. Lapse of the time duration

20. Failure of the pre – conditions mentioned/ applied

21. Revocation of

24. Acceptance must be absolute and unqualified

25. Mentanaccpetance is not sufficient(Silnece)

26. Acceptance of a proposal with the terms and conditions mentioned and implied

27. Need not be expressed in words always

28. Ignorance of a proposal, is no acceptance

29. Acceptance must be given within a reasonable time.