What is an offer and acceptance?

An offer and acceptance is a common way for parties to reach an agreement in contract law. In Washington, an offer is defined as a promise which is made in exchange for an act, forbearance, or the agreement of the other party. An offer must be definite and certain and not just an expression of interest or an invitation for offers. Acceptance is the unequivocal act of agreeing to an offer. An acceptance must be made by the party to whom the offer was presented and must correspond to the terms of the offer. This means that an acceptance cannot modify the offer or add exceptions as that would constitute a counter offer. In Washington, an acceptance is considered to be legally binding if it is made in writing, in person, by telephone, or by electronic means. It is important to remember that an offer can be withdrawn by the offerer anytime before it has been accepted. In Washington, the offer can also be terminated by operation of law, such as through the passage of a period of time. Once an offer is accepted, a binding contract is formed and both parties must fulfill their contractual obligations.

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What is an offer and acceptance?

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