What is an offer and acceptance?

An offer and acceptance is a basic principle of contract law in California. An offer is a proposal that provides the basis of a contract; one person makes an offer and the other person agrees to it. The acceptance of an offer can be express (voiced or written) or implied (understood based on the actions of the parties). When an offer is accepted, a contract is formed. The offer must contain all of the terms that each party has agreed to for the contract to be valid. Both parties must agree to the same offer—if there is any misunderstanding, this could invalidate the contract. If one party changes a term in the offer, it is no longer the same offer, and the contract is not formed. Once an offer has been accepted, each party has a legal obligation to fulfill the obligations of the contract. If one of the parties breaches any of the terms, the other party can seek legal action. In summary, an offer and acceptance are a basic part of contract law in California. An offer is an agreement between two or more parties, and when it is accepted, it forms a contract. Each party must comply with the agreements of the contract, and if one of them fails to do so, the other party can take legal action.

Related FAQs

What is the effect of a modification of a contract?
What is a contract of guarantee?
What is the law of privity?
What is a breach of the implied covenant of good faith?
What is the Statute of Limitations?
What is a liquidated damages clause?
What is equitable estoppel?
What is a valid offer?
What are standard form contracts?
What is the validity of an option contract?

What is an offer and acceptance?

Related FAQs

Related Blog Posts