The meaning of offer and acceptance is the basis of a contract. To form a contract, there must be an offer made by one party which is, in turn, accepted by another party, and then, in most cases goods and/or services must be exchanged between the two.
Meaning of Offer and Acceptance: Everything You Need to Know
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Although signing a contract is a common way of accepting an offer, there are various other ways of acceptance. For example, if you offer a contractor to paint your home for a certain sum of money and make some advance payment to him, the receiving of advance payment itself amounts to an acceptance by the contractor.
Offer and Acceptance: Everything You Need to Know - UpCounsel
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A few other tips to keep in mind when writing an acceptance letter of contract offer include:
1. Writing the exact proposal title.
2. Thanking the person in the beginning and expressing how happy you are to accept.
3. Restating the terms of an employment offer to show the person you understand them.
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The element of a valid offer
1. There must be two parties.
2. Every proposal must be communicated.
3. It must create Legal Relations.
4. It must be Certain and definite.
5. It may be specific or general.
6. Express Offer.
7. Implied Offer.
8. General Offer.
Offer and Acceptance Under Indian Contract Act, 1872 - iPleaders blog.ipleaders.in > offer-acceptance