A _____ offer is also known as continuing offer.a)standingb)definitec)crossd)counterCorrect answer is option 'A'. Can you explain this answer?

Question

Answer

Correct answer is option A) Standing

Explanation:
a standing offer, also known as a continuing offer, is an ongoing proposal from one party to another that remains open for acceptance during a specified period. It provides flexibility, is commonly used in business transactions, and can be revoked by the offeror before acceptance.

Answer

When an offer is allowed to remain open for acceptance over a period of time, it is called standing, open or continuing offer. Tenders are the example of standing offer.

Answer

**A Standing Offer**

A standing offer is a type of offer that remains open for acceptance over a period of time. It is also known as a continuing offer. This means that the offeror is willing to enter into a contract with the offeree at any time during the specified period.

**Characteristics of a Standing Offer**

1. **Open for Acceptance**: A standing offer remains open for acceptance for a specific duration. The offeror is bound by the terms of the offer and is ready to enter into a contract if the offeree accepts the offer within that time frame.

2. **No Communication Required**: Unlike other types of offers, a standing offer does not require the offeree to communicate their acceptance to the offeror. The offeree can accept the offer by performing the required actions or fulfilling the specified conditions.

3. **Revocable by Offeror**: The offeror has the right to revoke the standing offer at any time before it is accepted by the offeree. Once the offer is revoked, the offeree cannot accept it anymore.

**Advantages of a Standing Offer**

1. **Flexibility**: A standing offer allows the offeree to accept the offer at any time during the specified period. This provides flexibility for the offeree to consider their options and accept the offer when it is most suitable for them.

2. **Ease of Acceptance**: Since a standing offer does not require communication of acceptance, the offeree can accept the offer by simply performing the required actions or meeting the specified conditions. This eliminates the need for formal acceptance and speeds up the contract formation process.

3. **Certainty**: A standing offer provides a certain period during which the offeree can accept the offer. This gives the offeree a clear understanding of the time frame within which they can enter into a contract with the offeror.

**Conclusion**

A standing offer, also known as a continuing offer, is an offer that remains open for acceptance over a specified period of time. It allows the offeree to accept the offer at any time during the specified duration without the need for communication of acceptance. The offeror has the right to revoke the offer before it is accepted by the offeree. A standing offer provides flexibility, ease of acceptance, and certainty for both the offeror and the offeree.

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There is no binding Contract in case of -------- as one’s offer cannot be construed as acceptance

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