Types of Offers
Meaning An offer is the starting point in the making of an agreement. An offer is also called `proposal’. According to Section 2(a) of The Indian Contract Act, 1872, “A person is said to have made the proposal when he signifies to another his willingness to do or to abstain from doing anything with a view to obtaining the assent of that other to such act or abstinence.” Essential Elements An offer involves the following essential elements: (a) It must be made by one person to another person. In other words, there can be no proposal by a person to himself. Example: X says to Y that he wants to sell his car to himself for Rs. 1 lakh. There is no proposal because there can be no proposal by a person to himself. (b) It must bean expression of readiness or willingness to do (i.e. a positive act) or to abstain from doing something (i.e. a negative act). Example I: X offers to sell his car ...