Lacture on The Law of Contract 03

Lacture on The Law of Contract 03

Law of Contract

Offer :

A proposal is also called an offer; the term proposal is define in the section 2 sub-section “a” of the contract act 1872 says that …..

“When one person signifies to another his willingness to do or to abstain form doing something with a view to obtaining the assent of that other to such act or abstinence he is said to make a proposal.”

The person making the offer is called the offerer and the person to home the offer is made is called offeree.

Rules relating to offer

  • An offer may be express or implied.
  • It must be specific.
  • It may be made to a define person or a class of person or for all.
  • It must be one which is capable of creating a legal relationship and obligation.
  • The terms of it must be certain, define, unambiguous and not vague.
  • A mere statement of intention is not offer.
  • It must be communicated to the offeree.
  • It may be conditional.
  • Primary negotiation is not an offer.
  • Counter offer destroy the main offer and create a new offer.
  • Ignorance of offer no creates any contractual right.
  • An offer may be revoked before acceptance.
  • An offer stands till a regional time.
  • Standing offer is open for all time.

Revocation of offer

An offer may be revoked by the any one of the flowing ways ……..

  • An offer may be revoked by the offerer before acceptance.
  • After expiration of the satisfied time mention in the offer.
  • In absence of any specified time minting in the offer, after expiration of a reasonable time.
  • If the offerer died before acceptance.
  • If the offerer fail to fulfill any pre-requirement condition of the offer.
  • If the offer is not accepted by the offeree.