OFFER AND ACCEPTANCE

Offer and Acceptance

Offer and Acceptance

Introduction

A contract is propose to formalize an affirmation between two or more parties, in relative to a subject. Contracts can cover an exceedingly very broad range of matters, encompassing the sale of items or genuine house, the periods of employment or an unaligned contractor connection, the town of an argument, and ownership of intellectual property evolved as part of a work for hire (McKendrick, 2005). Contract is significant whenever you are dealing with anyone for business purposes; or whenever money is involved. Though, a contract alone would have no value; thus, it demands a law to legally bound two parties to pursue the actions according to the written agreement.

This case is regarding the two trader named Amrit and Billy. In this case, Amrit put an offer, but before acceptance, he sold it someone else. In this paper, we will analyse the case and give our advice to Amrit regarding the situation.

Case Analysis

According to the case Amrit put an offer for Billy to have 6 tons of copper for £3,000, and accept the offer within 15th of the month if Billy is interested. Billy accepted the offer by sending the post to Amrit; unfortunately, he sends it at the wrong address. When Billy did not receive any confirmation mail, he sends a fax to Amrit, unfortunately, Amrit did not read the fax. The next day Amrit sent a mail to Billy regarding the termination of the offer; and he sold it to someone else.

According to Law

"Acceptance must be expressed or implied. In principle, the silence kept by the person, to whom the offer is not equivalent to acceptance. Exceptionally, this person is not bound by his silence when the legislature decides, roasted happen with leasing and insurance, where it exists in the sense of appropriate use.

"The offer and acceptance should be complementary: the acceptance does not concur to the perfection of the contract rather than when it is in accordance with the offer. Otherwise, do not be in the presence of an acceptance, but a new offer, from the other party, and should be accepted in turn."

"This is that the offeree to adhere to each and every one of the elements of the contract, as has been proposed. Additionally, it is essential that the acceptance is communicated to the proposer within the term of validity of the proposal (Article 854 of the Code of Commerce).

If the ...