Answer to Question #220679 in Law for Birago Irene

Question #220679
1 What is an offer?


2 How is an offer terminated
1
Expert's answer
2021-08-16T07:03:02-0400

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.

An offer is terminated when the offeree communicates his rejection to the offeror thereby rejecting the offer previously made by the defendant (the offeror).” However, this should be distinguished from the situation when the offeree merely seeks further information from the offeror, and does not make a counter-offer.


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