What is a valid offer?

A valid offer in Mississippi contract law is an offer made with the intention of forming a legally-binding agreement when accepted. It must include all the necessary terms of the agreement, communicated in a clear and unambiguous manner such that it can be objectively interpreted. In order for an offer to be valid, it must be communicated to the person the offer is directed to (the offeree) with an expectation that the offer can be accepted. The offer must also include specific details about what is being offered and what is required in return. The offer must also be lawful (i.e. not involve social issues which violate the law). Additionally, the offer must not be one that cannot be completed (e.g. a one-time offer). Finally, the offeree must have the legal capacity to accept the offer, meaning they are of the required age, have the necessary mental capacity, and have not been declared legally incompetent. If all these elements are present, then the offer is valid.

Related FAQs

What is implied in a contract?
What is an indemnification clause?
What are standard form contracts?
What is the doctrine of frustration in a contract?
What is a durable power of attorney?
What is a declaratory judgment?
What is a contract of guarantee?
What is the difference between an express and implied contract?
What is consideration in a contract?
What is the common law of contracts?

What is a valid offer?

Related FAQs

Related Blog Posts