Chapter 2 OFFER, ACCEPTANCE AND REVOCATION Flashcards
1
Q
What is offer or proposal?
A
When one person signifizes 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 be make a proposal.
2
Q
What is Promise?
A
When person to whom proposal is made signifies his assent to it, he is said to make a promise. An offer when accepted becomes a promise.
3
Q
What is contract?
A
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4
Q
What is promisor?
A
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5
Q
What is agreement?
A
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6
Q
Promise=?
A
Offer + acceptance
7
Q
Express promise
A
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8
Q
Implied promise
A
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9
Q
Essentials of offer
A
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10
Q
Lapse of offer?
A
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11
Q
Acceptance
A
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12
Q
Essentials of acceptance
A
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13
Q
Revocation of offer timing
A
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14
Q
Communication of revocation
A
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