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PRESENTED BY:ANU MISHRA 13 JUNE 2011
LEGAL ASPECT’S OF BUSINESSOffER OR PROPOSAL
Presented By :Anu Mishra M.B.A 2ND SEM B.U3 JUNE 2011 PRESENTED BY:ANU MISHRA 3
MEANING• Sec 2(a) of the Indian contract act 1872• When one person signifies to another his willingness to do
from anything with a view to obtaining the assent of other person to such act or abstinence,he is said to make a proposal.
3 JUNE 2011 PRESENTED BY:ANU MISHRA 4
Characteristics of offer
• Expression of willingness for doing something.• Must be made to another person .• Made with a view to obtain assent of the
second party to such act .• Expression of willingness must be made with a
view to create legal obligation .
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Types of Offer
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General & Special Offers
Express & Implied Offers
Positive & Negative
OffersCross Offer
Essential of Valid Offer
• Express or Implied.• Positive or Negative.• Create a legal Relationship.• Definite and Certain.• Special terms must be noticed.• General or specific.
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Termination of Offer
• By notice of revocation.• By lapse of time.• By death of the offeror.• By rejection.• By illegality or destruction of subject matter.
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Acceptance
• When the person to whom the proposal is made signifies his asssent there to, the proposal is said to be accepted.
• A proposal when accepted it becomes promise .
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Essential of Valid Acceptance
• It must be absolute and unconditional.• Cannot precede an offer.• May be express and implied.• Must be given with a reasonable time.• Must show to fulfill a promise.• Offer once rejected cannot be accepted until it
is renewed.• Silence .
3 JUNE 2011 PRESENTED BY:ANU MISHRA 11
PRESENTED BY:ANU MISHRA 123 JUNE 2011
