Can an offer from one person be accepted by another?
An offer can only be accepted by the offeree, that is, the person to whom the offer is made.
What is acceptance and when an acceptance is considered as valid?
The Indian Contract Act 1872 defines acceptance in Section 2 (b) as “When the person to whom the proposal has been made signifies his assent thereto, the offer is said to be accepted. Thus the proposal when accepted becomes a promise.”
What makes a valid acceptance?
What Constitutes a Valid Acceptance? You need to agree to all the terms of the contract. Your agreement must be without any condition and without requiring any changes. This is called the mirror-image rule, where your acceptance mirrors the terms of the offer.
What 2 things are necessary for a valid legal acceptance?
Most contracts only need to contain two elements to be legally valid: All parties must be in agreement (after an offer has been made by one party and accepted by the other). Something of value must be exchanged — such as cash, services, or goods (or a promise to exchange such an item) — for something else of value.
What happens if the acceptance is not just as to the mode prescribed?
If the proposal lays down a mode of acceptance, then it must be according to the mode prescribed. If it is not given in the mode prescribed, the proposer may reject it and intimate the offeree within a reasonable time. But if he does not inform the offeree, he is deemed to have accepted it.
When to use the confirmation of acceptance clause?
The Confirmation of Acceptance clause in a standard form agreement is of recent origin. However, it is a very worthwhile statement. It is indicative of the fact that the offer or counter offer was accepted within the time limited for acceptance, namely the ‘irrevocable date”, and “time”.
What does confirmation of acceptance mean in real estate agreement?
(Ontario Real Estate Source) The Confirmation of Acceptance clause in a standard form agreement is of recent origin. However, it is a very worthwhile statement. It is indicative of the fact that the offer or counter offer was accepted within the time limited for acceptance, namely the ‘irrevocable date”, and “time”.
What does it mean to accept an offer?
Acceptance. Acceptance of an offer is the expression of assent to its terms. Acceptance must generally be made in the manner specified by the offer. If no manner of acceptance is specified by the offer, then acceptance may be made in a manner that is reasonable under the circumstances. An acceptance is only valid, however,…
What makes an acceptance a ” valid ” acceptance?
The Acceptor must in indicate an intention to fulfill the promise. Acceptance, in order to be valid, must be made under circumstances which would show that the acceptor is able and willing to fulfill the promise. If no such intent is present, the acceptance is not valid. Mere mental acceptance is no acceptance.