Offer and acceptance analysis is a traditional approach in contract law used to determine whether an agreement exists between two parties. Agreement consists of an offer by an indication of one person (the "offeror") to another (the "offeree") of the offeror's willingness to enter into a contract on certain terms without further negotiations. A contract is said to come into existence when acceptance of an offer (agreement to the terms in it) has been communicated to the offeror by the offeree and there has been consideration bargained-for induced by promises or a promise and performance.
The offer and acceptance formula, developed in the 19th century, identifies a moment of formation when the parties are of one mind. This classical approach to contract formation has been weakened by developments in the law of estoppel, misleading conduct, misrepresentation and unjust enrichment.
Famous quotes containing the words offer and/or acceptance:
“There are people who want to make men’s lives more difficult for no other reason than the chance it provides them afterwards to offer their prescription for alleviating life—their Christianity, for instance.”
—Friedrich Nietzsche (1844–1900)
“There is a striking dichotomy between the behavior of many women in their lives at work and in their lives as mothers. Many of the same women who are battling stereotypes on the job, who are up against unspoken assumptions about the roles of men and women, seem to accept—and in their acceptance seem to reinforce—these roles at home with both their sons and their daughters.”
—Ellen Lewis (20th century)