BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -An offer is a statement of the terms on which the offeror is willing to be bound. It is the present contractual intent to be bound by a contract with definite and certain terms communicated to the offeree. The expression of an offer may take different forms and which form is acceptable varies by jurisdiction.

Detailed explanation-2: -An offer is a conditional proposal made by a buyer or seller to buy or sell an asset, which becomes legally binding if accepted. An offer is also defined as the act of offering something for sale, or the submission of a bid to buy something.

Detailed explanation-3: -An Offer is usually understood as a Proposal. According to Section 2(a) of the Contract Act-“An individual is said to have made the offer when he implies to another his readiness to do or to avoid doing anything with a perspective to getting the consent of that other to such act or restraint.” Parties.

Detailed explanation-4: -The main purpose of a contract is to formalize new relationships and outline the various legal obligations each party owes to the other. Today, most contracts are agreed between businesses, not people.

Detailed explanation-5: -Legal purpose: A contract must have a lawful purpose to be enforceable. For example, if one business partner contracted someone to kill another business partner, but the person took the money without fulfilling the contract, there’s nothing that can be done.