Monday, 20 March 2017

TYPES OF OFFER


(i) General Offer – An offer made to the public at large. Anyone having know
offer can accept this offer by complying with the terms of offer.
(ii) Specific Offer – An offer made to a specified person. This offer can be accepted only by
the person to whom it is made
(iii) Cross Offers – When two persons exchange identical offer in ignorance of each other’s
offer. Two cross offers cannot made a contact.
(iv) Counter Offer – Qualified acceptance to the offer & counter offer amounts to rejection
of the original offer.
(v) Standing /open/continuing offer
period of time.
Tender for supply of goods is an example of General offer & standing offer.

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