The
words proposal and offer are used interchangeably and it is defined under
Section 2 (a), Indian Contract Act, 1872 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 or abstinence, he is said to make a
proposal. Thus, for a valid offer, the party making it must express his
willingness ‘to do’ or ‘not to do’ something.
The
word ‘proposal’ used above is synonymous in English Law with ‘offer’.
(a) General Offer: -
It is an offer made to the public in general and hence anyone can accept and do
the desired act. Section 8 of the Indian Contract Act points out that
performance of the conditions of a proposal is an acceptance of the proposal.
(b) Special Offer: -
When offer is made to a definite person, it is known as specific offer an such
offer can be accepted only by that specified person.
(c) Cross Offers: -
When two parties exchange identical offers in ignorance at the time of each
other's offer, the offers are called Cross offers. There is not biding contract
in such a case as one's offer cannot be construed as acceptance by the other.
(d) Counter Offer: -
When the offeree offers to qualified acceptance of the offer subject b
modifications and variations in the terms of original offer, he is said to have
made a counter offer. Counter-offer amounts to rejection of the original offer.
(e) Standing, Open or Continuing
offer: - An offer is allowed to remain open for acceptance
over a period of time is known as a standing, open or continuing offer. Tender
for supply goods of is a kind of
standing offer time the offer would be considered as accepted.
Courtesy:- Legal Point
Foundation
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