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It is often said that acceptance is to an offer what a lighted match is to a barrel of gunpowder. For a successful contract, there must be a valid offer followed by the offer being accepted. Let us learn more about the essentials of a valid acceptance.
Dec 24, 2019 · The Indian Contract Act 1872 defines acceptance in Section 2 (b) as “When the person to whom the proposal is made signifies his assent thereto, the offer is said to be accepted. Thus the proposal when accepted becomes a promise.”. An offer can be revoked before it is accepted.
Apr 17, 2024 · Essential Elements of a Valid Acceptance. 1. It must be communicated. For a valid contract, the acceptance must be clearly communicated to the offeror. Mere expression of intention regarding the acceptance of an offer or proposal is not a valid acceptance. 2. It must be absolute and unqualified
Aug 20, 2022 · FAQ 1. What is an offer? What are the essentials of a valid offer? Section 2 (a) of the Indian Contract Act defines a proposal as: “When one person signifies to another his willingness to do or to abstain from doing anything, with a view to obtaining the assent of that other to such act or abstinence he is said to make a proposal”.
- Section 2(a) of the Indian Contract Act defines a proposal as: “When one person signifies to another his willingness to do or to abstain from doing...
- Section 2(b) states that “A proposal when accepted becomes a promise” and defines ‘acceptance’ as “When the person to whom the proposal is made sig...
- As per the provisions of the Indian Contract Act, 1872, the following are the modes of revocation of an offer:- (i) By notice:- An offer may be rev...
- When two persons make identical offers to each other, without having knowledge of each other’s offer, then such offers are known as cross offers. T...
- When offer is accepted on terms or conditions different than those set out in the original offer then it amounts to counter offer. A counter offer...
- It means supply of information so that the negotiations can start and the other person can be moved to make an offer. It is an indication that the...
- Silence generally does not amount to acceptance. The acceptance of an offer cannot be implied from the silence of the offeree or his failure to res...
- The communication of offer completes when the offer comes to the knowledge of the offeree. The communication of acceptance completes at different t...
- No, there is no sale because the display of the article at the shop window is only an invitation to offer and not an offer [invitation to an offer...
Mar 11, 2019 · The whole process of entering into a contract starts with an offer by one party, an acceptance by another party, and an exchange of consideration (something of value). Let us take a look at the definition of an offer and the essentials of a valid offer.
Mar 27, 2023 · Contents hide. 1. Acceptance under Indian Contract Act 1872. 2. Acceptance must be communicated. 2.1. Felthouse v Bindlley. 2.2. Powell v Lee. 3. Acceptance by conduct. 4. When communication is complete. 4.1. As against the proposer (offeror) 4.2. As against the acceptor (offeree) when it comes to the knowledge of the proposer (offeror) 5.
Sep 4, 2023 · The rules for communication of acceptance are different for the person who makes it and the one who gets it because the communication of acceptance is completed at different times for both parties, i.e., the offeror and the offeree.
