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Firm Offer for Sales Agreement with Acceptance of the Form of Offer or Offeree

State:
Multi-State
Control #:
US-02377BG
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Word; 
PDF; 
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Description

An offer to buy or sell goods may be accepted in any manner and by any medium that is reasonable under the circumstances. However, if a specific manner or medium is clearly required by the terms of the offer or the circumstances of the case, the offer can only be accepted in that manner.

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FAQ

The three requirements for a valid offer are: present intent to contract, definiteness and communication to the offeree.

In the law of contracts, the mirror image rule, also referred to as an unequivocal and absolute acceptance requirement, states that an offer must be accepted exactly with no modifications. The offeror is the master of their own offer.

There are three types of acceptance including express acceptance, implied acceptance, and conditional acceptance. In the world of merchant agreements, formal contracts are sometimes too tedious for a busy schedule. Instead, merchants, contractors, and buyers have developed these types of acceptance of a contract.

The difference is that an acceptance buy other than the stipulated means does not create a contract because it is an acceptance at variance with the terms of the offer. A unilateral contract involves the exchange of a promise for an act.

Offers and revocations must be received to be valid, and with the mailbox rule acceptances don't have to be received to be valid. Performance. Offeree must know of offer before acceptance by performance - offer must have been received by the offeree.

In order for an offer to be valid, it must be clearly communicated, giving the offeree a chance to accept or reject it. Clear communication can include actions, oral communication, or in writing. A valid offer can be made to a group, a single person, or the public at large. Valid offers are definite in their substance.

Generally, a simple price quote is not an offer.If a person rejects an offer, it is considered terminated. Likewise, if the recipient of an offer changes its terms, the original offer is terminated and a new offer is created. This new offer is called a counteroffer, and the original offerer may accept it.

Revocation means "cancellation". Revocation of an offer means its withdrawal by the offeror.Section 5 lays down "a proposal may be revoked at any time before the communication of its acceptance as against the proposer". An offer is made irrevocable by acceptance. Revocation may be express or implied.

If the offeree accepts the offeror's terms while complaining about them, it is called a grumbling acceptance.The intention to accept an offer must be a present intent to contract.

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Firm Offer for Sales Agreement with Acceptance of the Form of Offer or Offeree