Standing offer (Tender Sample Clauses

Standing offer (Tender. An offer for a continuous supply of a certain article at a certain rate over a definite period is called a standing offer. The following characteristics are necessary to create a valid offer. 1. The terms of an offer must be clear and certain: - The terms of an offer should not be indefinite, vague or loose. The vagueness of an offer will not create any contractual relationship . For example, A says to B “ I will sell you a Car” as A owns four cars, the offer is not definite. 2. Offer may be express or implied: - An express offer is one which may be made by words spoken or written. An implied offer is one which may be gathered from the conduct of the party or the circumstances of the case. 3. The offer must be communicated to the offeree: - An offer must be communicated to the offeree. Until an offer is made known to the offeree, he does not know what he has to accept. 4. An offer must be made with an intention of creating legal obligations: - A proposal will not become a promise even after it has been accepted unless it was made with a view to create legal obligations. An offer to perform social or moral acts, without any intention of crating legal relations, will not be a valid offer.