BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -An offer must appear to be serious when making an offer. Words spoken in anger are not considered an offer. Preliminary negotiations are considered to be offers. A purported offer that lacks essential information is legally ineffective.

Detailed explanation-2: -A simple price quote is generally not regarded as an offer. While an advertisement may be considered an invitation to an offer, it is not an actual offer. However, if an advertisement promises to give out an award, it may constitute an offer.

Detailed explanation-3: -Examples of an offer look like this: If you repair the damaged part of your roof, I will buy your house for $125, 000. If you pay me $50 a week, I will mow your lawn during the summer. I will not sue you if you pay me $3, 500 for the damages to my car.

Detailed explanation-4: -An implied offer is one that’s implied rather than overtly stated. For instance, a person who buys a product from a seller assumes that the product functions properly without a seller explicitly claiming that the product works. An agreement stems from the offer, and the offer is then construed as the proposal.

Detailed explanation-5: -For example, if a buyer places an order to buy goods at a certain price, and the seller responds by shipping the goods, the seller’s actions signal acceptance of the offer.