BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Offer
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Advertisement
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Invitation to an offer
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None of the above
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Detailed explanation-1: -An Invitation to Offer is an act before an offer, in which one person induces another person to make an offer to him, it is known as invitation to offer. When appropriately responded by the other party, an invitation to offer results in an offer.
Detailed explanation-2: -Websites as advertisements The general principle is that adverts or displays of products do not constitute an offer. Instead, they are said to be “invitations to treat”. An invitation to treat precedes an offer in the contract formation process; it is an invitation to make an offer.
Detailed explanation-3: -The term tender refers to an invitation to bid for a project. Tendering usually refers to the process whereby governments and financial institutions invite bids for large projects that must be submitted within a finite deadline. The word tender can also refer to the acceptance of a formal offer, such as a takeover bid.