The offer and acceptance form the agreement between the parties. According to contract law, acceptance means consenting to the terms of an offer.Acceptance in contract law is when a person agrees to the terms of an offer without any changes. The offer may later become a contract if and only if all of the criteria set forth in the Statute of Frauds are satisfied. (Offer and Acceptance. An "offer" is an expression of willingness to do or refrain from doing a particular thing. Your most frequently asked questions about the city's procurement process and how to do business with the City of Charlotte.