What is an offer and acceptance?

An offer and acceptance is a legal concept in contract law found in Arizona. An offer occurs when one party, the offeror, makes a proposal to another party, the offeree. The offeror must clearly express their willingness to form a binding agreement with specific terms for the offer to be valid. The offer can be either verbal or written. Acceptance occurs when the offeree agrees to the terms of the offeror. Acceptance must be expressed by affirmative conduct, such as saying “yes” or signing a written agreement indicating their willingness to be bound by the offeror. In Arizona, consideration is also required for a valid contract. Consideration is the exchange of something of legal value in order for the agreement to be binding. In the absence of consideration, an offer and acceptance does not create a legally enforceable agreement. Once both parties agree to an offer and acceptance, either verbally or in writing, a legally binding contract is formed.

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What is an offer and acceptance?

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