What makes an offer

Since James is only making the offer to a specific person, only Andrew can accept. A general offer is not made to any specific individual or group, but rather made to the public. As long as the person making the offer abides by its terms, they can respond to a general offer. Brittany reads the offer in the newspaper and finds the lost dog. After she finds the dog, she calls John to let him know that she found his dog. A cross offer involves both parties in which one makes an offer to the other that is similar to what the other would have offered without realizing it.

This cross-offer situation requires one party to accept the other's offer. The final type of offer is a called an open or standing offer. This offer is continuous until it has been accepted. In order for an offer to be valid , it must be clearly communicated, giving the offeree a chance to accept or reject it.

Clear communication can include actions, oral communication, or in writing. A valid offer can be made to a group, a single person, or the public at large. For example, a common question is whether there was a valid offer. If there is no offer, there can be no contract. Offers at common law required three elements: communication, commitment and definite terms.

The person making the offer the offeror must communicate his offer to a person who may then choose to accept or reject the offer the offeree. Often, this is not a serious issue to analyze, as the offeror is free to communicate his offer in any means, whether orally spoken offers or in writing. Whether the offeror is committed requires an analysis of whether the offeror, in his communication of the offer, intended to be bound by the offer.

Auctions are a common example of invitations to receive offers, rather than a contractual offer in itself. All offers must be definite and specific in their terms.

The essential terms of the deal, such as price, manner of acceptance and timing, must be stated. It can be expressed in many different ways, from a short and simple oral statement to a long and detailed written statement. However, you have to make sure that your offer is clearly communicated and reasonable in order to convince the other party that you are actually making an offer.

In order to create a valid contract , one party must make an offer, another party must accept the offer, and consideration must be exchanged. An offer refers to a promise that is dependent on a certain act, promise, or forbearance given in exchange for the initial promise. It is a demonstration of your willingness to enter into an agreement and an invitation to the other party to conclude the agreement by expressing assent.

Determining whether a party has actually made an offer is a common challenge in a contract case. As a rule of thumb, the offer must be definite and reasonable enough for the receiving party to believe that it is indeed an offer. If your offer includes terms such as quantity, price, quality, and place and time of delivery, the court may find that you have indeed made an offer. A simple price quote is generally not regarded as an offer. While an advertisement may be considered an invitation to an offer, it is not an actual offer.

However, if an advertisement promises to give out an award, it may constitute an offer.