Offer With Acceptance With Contract Law
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How to fill out Firm Offer For Sales Agreement With Specification Of Manner Of Acceptance?
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FAQ
Ing to the Indian Contract Act, 1872, Section 2(b), acceptance is expressed as ?When the person to whom the proposal has been made signifies his assent thereto, the offer is said to be accepted. Thus, the proposal when accepted becomes a promise.?
Offer and acceptance are a means of analyzing the process of negotiation to decide whether and when a contract has been made and what therefore constitute its terms. Offer and acceptance analysis is a traditional approach in contract law used to determine whether an agreement exists between two parties.
Say for example A offers to buy B's car for rupees two lacs and B accepts such an offer. Now, this has become a promise. When the proposal is accepted and it becomes a proposal it also becomes irrevocable. An offer does not create any legal obligations, but after the offer is accepted it becomes a promise.
General Rules Concerning Contract Acceptance Acceptance has to be communicated. ... No modifications can be made to the offer upon acceptance. ... An offer may be revoked until the time it's accepted. ... The only person who can accept the offer is the one to whom it's made.
I was pleased to hear back from you, and I'm excited to see where this new position leads. I have reviewed the terms of employment as set out in the contract and am happy to accept my starting salary of [salary] for this position. I also accept the terms and policies of the company as detailed in the offer letter.
