Offer

Question 1

Definition of “CONTRACT”

Answer 1

-agreement
-between two or more
parties
-enforceable by law
- legally binding

Question 2

Authority of “CONTRACT”

Answer 2

-Sec.2(h) CA 1950
…an agreement enforceable
by law is a contract”

Question 3

Authority of OFFER

Answer 3

Sec. 2(a) CA 1950

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 the act or
abstinence, what is the meaning

Question 4

To whom an offer can be made?

Answer 4

-individual
-class of persons
-a firm
-a company
-public at large

Question 5

ways on how an offer can be made.

Answer 5

Section 9 Contracts Act 1950

An offer can be express (in words) or implied (by conduct) -

Question 6

when Communication of an offer is deemed to be made

Answer 6

Section 3 Contracts Act 1950

Communication of an offer is deemed to be made by any act or omission of the offeror -

Question 7

communication of offer considered complete

Answer 7

Section 4(1) Contracts Act 1950

An offer is complete when it comes to the knowledge of the offeree -

Question 8

Section 5(1), 6(a), 6(b), 6(c), 6(d) Contracts Act 1950

Answer 8

Auth: Sec. 5(1) “A proposal may be revoked at any time
BEFORE the communication of its acceptance is
complete as against the proposer

S. 6(a) : Notice of
revocation by the offeror

S. 6(b) : Lapse of time /
no specific time given –
reasonable time

S.6(c) : Failure of the
offeree to fulfill the
condition precedent to
the acceptance

S. 6(d) : By the
death/mental disorder of
the offeror (offeree
knows)

Question 8

how offer can be revoked

Answer 8

Section 5(1), 6(a), 6(b), 6(c), 6(d) Contracts Act 1950

An offer can be revoked before acceptance is complete againts proposer-