Offers

A contract must establish evidence of agreement, being an offer followed by an acceptance. This may be by way of an oral agreement, or it may be done by writing or a combination of writing and oral agreement. The offer and acceptance may occur in a bilateral way (effectively an exchange of mutual promises) or a unilateral way (a promise by one party followed by an act in response).

An offer is a clear statement by one party indicating that they are willing to be bound on certain terms if the person to whom the offer is made communicates their acceptance while the offer is on foot. Otherwise, the statement may be seen as an invitation to treat, namely a request for offers. Such invitations are a common feature of negotiations and carry no promissory force.

See Offers.