BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is an offer?
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A declaration of an intention
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An invitation to offer
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An advertisement offering reward to anyone who finds the lost Dog of the advertiser
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An offer made jokingly
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Explanation:
Detailed explanation-1: -Example: John tells Dan that he will pay Dan $100 if Dan paints his car, and that Dan should show acceptance of the offer by the act of painting the car. Dan accepts by painting the car. Bilateral Contract: A person accepts an offer by promising to do the requested act.
Detailed explanation-2: -Answer» D. Bids in an auction sale.
Detailed explanation-3: -Answer: An offer is a conditional proposal made by a buyer or seller to buy or sell an asset, which becomes legally binding if accepted.
Detailed explanation-4: -n. a specific proposal to enter into an agreement with another. An offer is essential to the formation of an enforceable contract. An offer and acceptance of the offer creates the contract.
There is 1 question to complete.