Offer
-
Offer, Acceptance and Consideration Explained with Practical Examples
A contract normally begins with a legally recognisable offer, an absolute and properly communicated acceptance, and lawful consideration exchanged between the parties. Negotiation, expressions of interest, advertisements, quotations, and conditional replies do not necessarily create a contract. Governing law Sections 2 to 9 of the Contract Act, 1872 govern proposals, acceptance, communication, revocation, and express…