Rules for Offer and Acceptance

993 WordsDec 31, 20124 Pages
Introduction: Rules of Offer and Acceptance are applied to enforce an agreement by the law. This agreement is the first requisite of any contract of the business. In order to a contract come into being between parties, the offer is made by the offeror and the oferee accept that offer. In 21st century, there are rapid changes in business trend which create lots of new business model such as e-business and global business. The more business participates, the more requirements of Offer and Acceptance Rules to adapt to the change. In this essay, we are going to look at the Rules of Offer and Acceptance, how do they affect business contract and whether these rules make good business sense in 21st century or not. Offer And Acceptance, How These…show more content…
In addition, the revocation do not need to be told by the offeror, it can be informed by a reliable third party. Keenan and Riches also proposed that a second subsequent offer can revoke the first offer but it must be “sufficiently at odds with the first offer, so that both cannot be accepted”

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