What are the essential elements of a valid offer? How is it different from valid acceptance

Asked by Last Modified  

4 Answers

Follow 5
Answer

Please enter your answer

Making tough topics easy and fun to understand. Backed by 7 years of trusted experience.

It contain some offer and the details regarding that and it is different from valid acceptance as you pay certain sum for that
Comments

Optional Kannada Faculty with 7 Years of Teaching Experience

(1) The offer must be Communicated Communication or expression of the willingness by the offerer to enter into a contract or abstain from doing so is essential for a valid offer. Mere desire or willingness to do or not to do something is not enough and will not constitute for an offer.
Comments

Experienced Faculty for commerce, CA and CMA and Career councilor

Hi Parvinder, Essential elements of Valid Offer are: Demonstrates intent to enter a contract. Clearly specifies terms. Communicated to the offeree. Identifies parties. Can be revoked unless there's an option or consideration. Must have a legal purpose. and essential...
read more
Hi Parvinder, Essential elements of Valid Offer are: Demonstrates intent to enter a contract. Clearly specifies terms. Communicated to the offeree. Identifies parties. Can be revoked unless there's an option or consideration. Must have a legal purpose. and essential elements of Valid Acceptance are: Reflects the intent to accept the offer. Generally matches the offer's terms. Must be communicated. Should be timely. In essence, an offer initiates the contract, while acceptance finalizes it. Both need intent, communication, and adherence to the offer's terms to be valid. Hope you got the differnce. read less
Comments

Experienced Maths, Science,Social Science tutor

it must be clearly communicated, giving the offeree a chance to accept or reject it
Comments

View 2 more Answers

Related Questions

How do I score good marks in bcom in pu?
Dear, a thorough understanding of subject and continuous revision is a basic piller of success in any subject.In particularly B Com,your effort should be to practice more and more. God Bless You..
Bhakti
0 0
7
Why are increases in accounts receivable a cash reduction on the cash flow statement?
because you are not receiving cash against the sale which means your debtors are increasing.In hindi we can say that paise ka na aana bhi jana hota hai.
Ravi Shankar
0 0
7

What is the Process to build a startup?

1. Idea Generation: Identify a unique and viable business idea.2. Market Research: Analyze the market, target audience, and competition.3. Business Plan: Develop a comprehensive business plan outlining...
Abhishek Srivastava
0 0
9
Hi All, I am new user of UrbanPro. Please tell me how to use this according my Profession. Thanks
Kindly update your profile regularly with your recent mobile number .. Students might contact you...
Aman
0 0
7

Now ask question in any of the 1000+ Categories, and get Answers from Tutors and Trainers on UrbanPro.com

Ask a Question

Related Lessons

Basic Economics Concepts for class 12
Basic concepts of national income: 1. Definition of National Income: National income is the sum of all the incomes earned by the factors of production within a country's borders in a given time period. 2....

Behavior Management Tips for New Teachers
Behavior Management Tips for New Teachers! Behavior Management is a challenge that every new teacher faces. Unfortunately, teachers cannot be 100% prepared on how to effectively manage an entire classroom...

Margin Of Safety In Marginal Costing
Margin of Safety (MOS) is the sale level which exceeds Break Even point i.e. it is the level at which an entity’s output/sales level can fall before a business reaches its breakeven point. It is...

Meaning of Decentralization and its advantages and disadvantages.
Decentralization is the process in which decision making authority is dispersed throughout the organization. Decentralization helps top management to focus more on major decisions by allowing middle and...

Be Alert Always as Trader !!
People who make decisions for a living are coming to realize that in complex or chaotic situations- a battlefield, a trading floor, or today's brutally competitive business environment-intuition usually...

Recommended Articles

While schools provide formal education to the children, the home is where they start learning about things informally. Parents think that schools will take the initiative to educate their children. Well, this is partially true, as parents also play an essential role in bringing up their child. For the development of particular...

Read full article >

E-learning is not just about delivering lessons online. It has a much broader scope that goes beyond manual paper or PowerPoint Presentations. To understand the reach of E-learning and how the whole process works in developing the Educational system, we will discuss a few points here. Let us find out how this new learning...

Read full article >

Once over with the tenth board exams, a heavy percentage of students remain confused between the three academic streams they have to choose from - science, arts or commerce. Some are confident enough to take a call on this much in advance. But there is no worry if as a student you take time to make choice between - science,...

Read full article >

With the current trend of the world going digital, electronic renaissance is a new movement that is welcomed by the new generation as it helps makes the lives of millions of people easier and convenient. Along with this rapidly changing movement and gaining popularity of Internet, e-Learning is a new tool that emerging...

Read full article >

Looking for BCom Tuition ?

Learn from the Best Tutors on UrbanPro

Are you a Tutor or Training Institute?

Join UrbanPro Today to find students near you