The most common manner in which the power of acceptance can be terminated is through expiration or lapse of the offer. To form a contract, one party must make an offer that another one accepts e.g.- Whose Meaning Prevails ……………………..1. An offer is a proposal from one party to another intending to create a legal obligation upon acceptance. The answer lies in the intricate interplay of three fundamental legal concepts: offer, acceptance, and consideration. The contract will be considered valid so long as the court can fill in the blanks through the process of inference. Orange shall furnish Anaheim with one set of record drawings for the completed Project and a copy of the filed notice of completion. Read these General Terms of Service (the "Agreement") carefully.