offer

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offer

1. Contract law a proposal made by one person that will create a binding contract if accepted unconditionally by the person to whom it is made
2. on offer for sale at a reduced price

Offer

 

a proposal to conclude a civil law contract that contains all the essential conditions of the contract. The offer may be made to a specific person or to an indefinite number of people, for example, a public offer placing an item with a marked price in a store window. The offer may be in oral or written form and may or may not specify a time limit for the answer (acceptance).

Under Soviet law, a contract based on an oral offer without a time limit for the answer is considered concluded if the other party immediately (including by telephone) accepts the offer. If such an offer is made in written form, the contract is considered concluded when the answer accepting the offer is received during the time normally necessary for acceptance. Under the law, an acceptance on conditions different from those offered is considered both a rejection of the offer and a new offer (for example, the Civil Code of the RSFSR, art. 165). Disagreements that arise during the conclusion of contracts among state, cooperative (with the exception of kolkhozes and interkolkhoz organizations), and other public organizations are normally resolved by arbitration agencies.