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OFFER - Coggle Diagram
OFFER
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Definition
a) Section 2(a) Contract Act 1950
The person making the offer/proposal is called the offeror/promisor while the person accepting the offer/proposal is called offeree/promisee
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- Tan Geok Khoon & Gerard Francis Robless v PayaTerubong Estate Sdn Bhd.
- The issue was whether a counter-offer from the defendant relating to the sale of land had been accepted by a deceased person so that a contract was concluded.
Invitation to Treat
- A proposal must be distinguished from an invitation to treat (ITT).
- ITT is a preliminary communication which passes between the parties at the stage of negotiation
Example:
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ADVERTISEMENT
- Advertisements for sale in newspapers and magazines, as well as price lists in circulars and catalogues, are often invites rather than offers.
AUCTION
- In sales by auction, the person bidding is the offeror, and the auctioneer is the offeree.
- As an offeree, it is up to an auctioneer to decide which bid (offer) to accept
TENDERS
- A tender is a call for persons to put in offers to do something or supply goods.
NEGOTIATION TO BUY A LAND
- Negotiation to buy a land between two parties. It is an invitation to treat