Chartered Accountancy CPT Course

Lecture

What is Proposal ?

When a 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 act or abstinence, he is said to

make a proposal

Classification of Offer

1. General Offer: Offer made to Public in general . Anyone can accept and do the desired act 2.Special Offer: Offer made to Definite person . can be accepted only by specified person 3.Counter Offer: Qualified acceptance by offeree subject to modifications & verification iterms of original offer . Amounts to rejection of original offer 4. Standing, Open or Continuing Offer: Open for acceptance over a period of time

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Rules as to Offer

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Chartered Accountancy CPT Course

Lecture 2 Offer & Acceptance Quick Revision Notes

willingness to do or to abstain from doing anything ning the assent of that other to such act or abstinence, he is said to

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made to Public in general . Anyone can accept and do the

Offer made to Definite person . can be accepted only by specified

Qualified acceptance by offeree subject to modifications & verification in

Open for acceptance over a period of time

What is Proposal ?

A proposal or offer is said to have been accepted when the person to whom the proposal is made signifies his assent to the proposal to do or not to do

something.

Rules as to Acceptance

Communication of Offer

Complete when it comes to the knowledge of the person to whom it is made.Made by Post When the letter reaches

. Communication of Acceptance

Against Proposer When put in course of transmission to him.Against Acceptor When it comes to knwoledge of the proposer.

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Session 1, Section B Mercantile Law

Quick Revision Notes

been accepted when the person to whom the proposal is made signifies his assent to the proposal to do or not to do

something.

Rules as to Acceptance

Communication of Offer

knowledge of the person to whom it is made. When the letter reaches

Communication of Acceptance

When put in course of transmission to him. When it comes to knwoledge of the proposer.

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