BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Requirements of an Acceptance Acceptance is the unqualified willingness to go along with the offer. 1. Unconditional Acceptance: no change to the terms of the original offer. Any change in terms is a counteroffer; this new offer can be accepted/declined.

Detailed explanation-2: -Acceptance of Proposal means any document evidencing the Customer’s acceptance of the Proposal, whether by counter-signature of on the Proposal, communication of acceptance by letter or email or by some other document.

Detailed explanation-3: -Acceptance should be absolute and unqualified: Section 7 talks about acceptance to be absolute and unqualified. There must neither be any condition in acceptance nor any variations to be made while accepting the offer. Any such variation or condition in the offer can constitute a counter-offer.

Detailed explanation-4: -The Indian Contract Act 1872 defines acceptance in Section 2 (b) as “When the person to whom the proposal has been made signifies his assent thereto, the offer is said to be accepted. Thus the proposal when accepted becomes a promise.”

Detailed explanation-5: -An Offer and Acceptance Contract is a type of contract that requires the acceptance of an offer for it to become binding. This type of contract is also called “offer and acceptance” or “offer and promise.” The offeror, or person making the offer, must have the intention to be bound by what they are offering.