Concept of Offer and Acceptance in Civil versus Common Law

Description

This Skill Bit talks about how an offer is a proposal to contract on specific terms, creating the power of acceptance for the offeree. To be valid, the offer must be communicated, intended to create a legal obligation, and have definite terms. Rejection, counteroffer, or failure to respond terminates the offer. Acceptance is the unqualified agreement to an offer, forming a binding contract. It must be communicated to the offeror, either expressly or impliedly, without conditions or modifications.

Duration approx. 4 Min.

Tier: basics