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What is the difference between an offer and an agreement?
- a)An offer is a proposal made by one party, while an agreement is the acceptance of the offer by the other party.
- b)An offer is a general statement of willingness, while an agreement is a specific promise.
- c)An offer is a legally binding contract, while an agreement is a non-binding arrangement.
- d)An offer is a verbal communication, while an agreement is a written document.
Correct answer is option 'A'. Can you explain this answer?
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What is the difference between an offer and an agreement?a)An offer is...
Offer vs Agreement:
An offer is a proposal made by one party to another party, expressing a willingness to enter into a contract under certain terms. On the other hand, an agreement is the acceptance of the offer by the receiving party, thereby creating a mutual understanding between the parties.
Key Differences:
- Offer: An offer is a proposal made by one party.
- Agreement: An agreement is the acceptance of the offer by the other party.
Characteristics of an Offer:
- An offer is a specific communication that outlines the terms and conditions of the contract.
- It demonstrates a willingness to enter into a legally binding agreement.
- An offer can be revoked by the offering party before it is accepted.
Characteristics of an Agreement:
- An agreement is the acceptance of the offer by the receiving party.
- It signifies mutual assent to the terms and conditions proposed in the offer.
- Once an agreement is reached, it becomes a legally binding contract between the parties.
In conclusion, while an offer is a proposal made by one party, an agreement is the acceptance of that proposal by the other party. The offer sets out the terms of the contract, and the agreement demonstrates the mutual understanding and acceptance of those terms.
An offer is a proposal made by one party to another party, expressing a willingness to enter into a contract under certain terms. On the other hand, an agreement is the acceptance of the offer by the receiving party, thereby creating a mutual understanding between the parties.
Key Differences:
- Offer: An offer is a proposal made by one party.
- Agreement: An agreement is the acceptance of the offer by the other party.
Characteristics of an Offer:
- An offer is a specific communication that outlines the terms and conditions of the contract.
- It demonstrates a willingness to enter into a legally binding agreement.
- An offer can be revoked by the offering party before it is accepted.
Characteristics of an Agreement:
- An agreement is the acceptance of the offer by the receiving party.
- It signifies mutual assent to the terms and conditions proposed in the offer.
- Once an agreement is reached, it becomes a legally binding contract between the parties.
In conclusion, while an offer is a proposal made by one party, an agreement is the acceptance of that proposal by the other party. The offer sets out the terms of the contract, and the agreement demonstrates the mutual understanding and acceptance of those terms.
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What is the difference between an offer and an agreement?a)An offer is...
An offer is a proposal made by one party to another, expressing their willingness to do or abstain from doing something. On the other hand, an agreement is the acceptance of the offer by the other party, resulting in a mutual understanding and intention to be bound by the terms of the offer.Example: A offers to sell his laptop to B for a certain price. If B accepts the offer, it becomes an agreement between A and B, forming a legally binding contract.
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What is the difference between an offer and an agreement?a)An offer is a proposal made by one party, while an agreement is the acceptance of the offer by the other party.b)An offer is a general statement of willingness, while an agreement is a specific promise.c)An offer is a legally binding contract, while an agreement is a non-binding arrangement.d)An offer is a verbal communication, while an agreement is a written document.Correct answer is option 'A'. Can you explain this answer?
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What is the difference between an offer and an agreement?a)An offer is a proposal made by one party, while an agreement is the acceptance of the offer by the other party.b)An offer is a general statement of willingness, while an agreement is a specific promise.c)An offer is a legally binding contract, while an agreement is a non-binding arrangement.d)An offer is a verbal communication, while an agreement is a written document.Correct answer is option 'A'. Can you explain this answer? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about What is the difference between an offer and an agreement?a)An offer is a proposal made by one party, while an agreement is the acceptance of the offer by the other party.b)An offer is a general statement of willingness, while an agreement is a specific promise.c)An offer is a legally binding contract, while an agreement is a non-binding arrangement.d)An offer is a verbal communication, while an agreement is a written document.Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the difference between an offer and an agreement?a)An offer is a proposal made by one party, while an agreement is the acceptance of the offer by the other party.b)An offer is a general statement of willingness, while an agreement is a specific promise.c)An offer is a legally binding contract, while an agreement is a non-binding arrangement.d)An offer is a verbal communication, while an agreement is a written document.Correct answer is option 'A'. Can you explain this answer?.
What is the difference between an offer and an agreement?a)An offer is a proposal made by one party, while an agreement is the acceptance of the offer by the other party.b)An offer is a general statement of willingness, while an agreement is a specific promise.c)An offer is a legally binding contract, while an agreement is a non-binding arrangement.d)An offer is a verbal communication, while an agreement is a written document.Correct answer is option 'A'. Can you explain this answer? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about What is the difference between an offer and an agreement?a)An offer is a proposal made by one party, while an agreement is the acceptance of the offer by the other party.b)An offer is a general statement of willingness, while an agreement is a specific promise.c)An offer is a legally binding contract, while an agreement is a non-binding arrangement.d)An offer is a verbal communication, while an agreement is a written document.Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the difference between an offer and an agreement?a)An offer is a proposal made by one party, while an agreement is the acceptance of the offer by the other party.b)An offer is a general statement of willingness, while an agreement is a specific promise.c)An offer is a legally binding contract, while an agreement is a non-binding arrangement.d)An offer is a verbal communication, while an agreement is a written document.Correct answer is option 'A'. Can you explain this answer?.
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