Discuss in detail the kind of Offers.
An offer refers to a promise that is dependent on a certain act, promise, or forbearance given in exchange for the initial promise. it is a sign of their willingness to agree on certain terms from one person to another.
Kinds of Offer
- Express and Implied Offer
- Specific and General Offer
- Standing Offer
- Cross Offer
- Counter Offer
Express and Implied Offer:
An Express offer is an offer which is expressed in words or written. then the offer is called an Express offer.
Example: Dipankar offer his car raman for Rs. 3,00,000/-
On other hand where the offer is not expressed in words but is implied from the conduct of the parties or the circumtancs of the case, this type of offer is called implied offer.
Example: a car company cicv run cars between delhi to new delhi, there is an implied offer from the car company to take any person on the route who is ready to pay the decided fare.
Example: a car company cicv run cars between delhi to new delhi, there is an implied offer from the car company to take any person on the route who is ready to pay the decided fare.
Specific and General Offer:
A Specific offer is an offer that is made to a specific or ascertained person, this type of offer can only be accepted by the person to whom it is made.
Example: An offer to B to buy a his car for Rs. 10 lakh.
A general offer is an offer which is not made to a definite person but to the world at large or public in general. In general offer, the contract is made with the person who having the knowledge of the offer comes forward and acts according to the conditions of the offer.
A Specific offer is an offer that is made to a specific or ascertained person, this type of offer can only be accepted by the person to whom it is made.
Example: An offer to B to buy a his car for Rs. 10 lakh.
A general offer is an offer which is not made to a definite person but to the world at large or public in general. In general offer, the contract is made with the person who having the knowledge of the offer comes forward and acts according to the conditions of the offer.
Example: An offer to give reward or prize if someone win in a essay competition.
Standing Offer:
An offer which is allowed to remain open for acceptance over a period of time is called as standing offer or open offer.
An offer which is allowed to remain open for acceptance over a period of time is called as standing offer or open offer.
Cross Offer:
Where two persons make identical offers to each other, and both such persons do not know about each other’s offer, then such offers are known as cross-offer.
Example: An offer by A to sell to B on certain terms and an offer by B to buy from A on the same terms unaware of the A's proposition at that time.
Counter Offer:
A counteroffer means the original offer was rejected and replaced with another one. The counteroffer gives the original offerer three options: accept the counteroffer, reject it, or make another offer.
Where two persons make identical offers to each other, and both such persons do not know about each other’s offer, then such offers are known as cross-offer.
Example: An offer by A to sell to B on certain terms and an offer by B to buy from A on the same terms unaware of the A's proposition at that time.
Counter Offer:
A counteroffer means the original offer was rejected and replaced with another one. The counteroffer gives the original offerer three options: accept the counteroffer, reject it, or make another offer.
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