An offer is a definite statement made by one party(the oferror) to another party(the oferree) which contains the terns upon which the offer or is willing and ready to enter into a contract with the offeree. An offer can be made in any of the following ways;
By telephone.
By thorough conduct.
By writing or orally.
Termination of offer.
An offer can be terminated in the following ways;
Revocation.
This means the withdrawal of an offer. An offer can be revoked or withdrawn at ant time before acceptance. Revocation must be communicated to the oferrer and must be done directly by the third party.
Rejection.
This is the act of the offeree which clearly shows his decisions not to accept the offer. An offer is termintrd by the offeree.
Lapse or efflussion of time.
If an offer stipulates the a period within which it is yo be accepted, then it terminates if it is bit accepted after the expiration of the stipulated time. If no time is stipulated, it will lasoe after a reasonable time.
Death before acceptance.
As a general rule, the death or either the offeror or offeree both before acceptance will terminate the offer. Thus if the offer was made not just made to the offeree but also to his successor,then the. Death of the offeree my terminate the offer.
Frustrating occurrence or non-occurence.
This extends to where an offer is made and the subject matter is destroyed thus frustrating the offer.
Godbless this accounts👇
@Jenniferjulius
For their endless support so far. Please do well to upvote, comment and resteem.
