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Offer:
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A explicit proposal to contract which, if accepted, completes the contract and binds both the person that made the offer and the person accepting the offer to the terms of the contract.
Related Terms: Contract,
Acceptance
An offer is the initial spark of a contract; it is the seed of a contract.
An offer is said to be one of three essential elements of a contract: the other two being acceptance (of the offer) and a reciprocal flow of obligations (consideration).
Lawyers and law professors, in the legal science of contract law, will refer to the offeror and offeree as in: the offeror offers the offeree the offer.
Halsbury's Laws of England (4th Edition, 2007) defines an offer as follows:
"An offer is an expression by one person or group of persons, or by agents on his behalf, made to another, of his willingness to be bound to a contract with that other on terms certain or capable of being rendered certain."
Offers and related terms are discussed extensively in the Contract Law section.
CATEGORIES AND TOPICS:
This term applies to the following areas of law and categories;