Offer and Acceptance Page - New Jersey

Offer and Acceptance Page is a legal document that was released by the New Jersey Department of the Treasury - a government authority operating within New Jersey.

FAQ

Q: What is offer and acceptance?
A: Offer and acceptance is a legal principle that governs the formation of contracts. It refers to one party making an offer and the other party accepting that offer, creating a binding agreement.

Q: How do I make a valid offer?
A: To make a valid offer, you need to express your intention to be bound by the terms of the offer, and the terms must be sufficiently definite.

Q: Can an offer be revoked?
A: Yes, an offer can be revoked by the person who made the offer as long as it hasn't been accepted yet. However, once an offer has been accepted, it cannot be revoked.

Q: What is acceptance?
A: Acceptance is the agreement by the offeree to the terms of the offer. It must be unconditional and communicated to the offeror.

Q: Can acceptance be in the form of silence?
A: In general, acceptance cannot be in the form of silence. There needs to be some form of communication indicating the offeree's agreement to the offer.

Q: What happens if I reject an offer?
A: If you reject an offer, the offer is terminated and no contract is formed.

Q: Is a contract formed if there is a mistake in the offer or acceptance?
A: If there is a material mistake in the offer or acceptance, it may prevent the formation of a contract. However, minor mistakes or discrepancies may not invalidate the contract.

Q: Can an offer and acceptance be made verbally?
A: Yes, offers and acceptances can be made verbally. However, it is generally recommended to have written contracts for clarity and evidence.

Q: What happens if the terms of the acceptance are different from the offer?
A: If the terms of the acceptance are different from the offer, it is considered a counteroffer, which terminates the original offer. The counteroffer then becomes a new offer, which the original offeror can accept or reject.

Q: Are there any exceptions to the rule of offer and acceptance?
A: There are some exceptions to the rule of offer and acceptance, such as contracts for the sale of goods governed by the Uniform Commercial Code, which have their own rules.