Common Contracts
1 similar Offer and Acceptance contracts
Offer and AcceptanceOffer and Acceptance • January 6th, 2021
A contract may be defined as an agreement between two or more parties that is binding in law. The agreement generates rights and obligations that may be enforced in the courts. The normal method of an enforcement is an action for damages for breach of contract. In determining whether parties have reached an agreement, the courts have adopted an intellectual framework that analyses transactions in terms of offer and acceptance. For an agreement to have been formed, therefore, it is necessary to show that one party to the transaction has made an offer, which has been accepted by the other party: the offer and acceptance together make up an agreement.
