BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Every offer, when properly made, is always ended either by acceptance or rejection by the offeree. Even though the offeree has given nothing of value in exchange, a merchant who makes a firm offer may not revoke it. An offer made to one person can be accepted by another.

Detailed explanation-2: -If an offeree clearly rejects the offer, the offer is said to be terminated. When an offeree changes the offeror’s terms in important ways, the offeree makes a counteroffer.

Detailed explanation-3: -(2) Rejection by the offeree The right of acceptance can also be terminated by the offeree’s rejection of the offer. If the offeree rejects the offer, his power of acceptance is terminated even if the power of acceptance would not have otherwise lapsed.

Detailed explanation-4: -An agreement-There must be offer and acceptance. Consideration-Both parties must give something or promise to refrain from doing something they have a right to do. Capacity-Both parties must have the legal capacity to enter into the agreement.