Скачать или смотреть OFFER AND ACEEPTANCE WITH FLOW CHART | BUSINESS LAW | ACC | HITESH NANKANI | CA | CSEET| CMA | BCOM

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In business law, an offer and acceptance are two crucial elements in the formation of a legally binding contract. Here's a breakdown of these concepts:

1. *Offer:* An offer is a proposal made by one party (the offeror) to another (the offeree) that, if accepted, will lead to a binding contract. For an offer to be valid, it must be communicated clearly, with the intention to create a legal relationship, and it should include essential terms of the proposed agreement. The terms must be definite and certain, leaving no room for misunderstanding. An offer can be made orally, in writing, or through conduct, depending on the nature of the transaction.

2. *Acceptance:* Acceptance is the unqualified and unconditional agreement to the terms of an offer. It must be communicated to the offeror, and it must correspond exactly with the terms of the offer. Any attempt to change the terms would be considered a counteroffer, which may result in a new offer and a subsequent need for acceptance. Acceptance must be communicated in the manner specified by the offeror, or by a reasonable means if no specific method is stated.
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