Question based on DIMS BL Solved Assignment and other course
Answer:
I On the basis of formation
- Express Offer : An express offer is one which is made by words either spoken or written.
Example :X says to y, “Will you purchase my car for Rs. 1,00,000?”
Example : X advertises in newspaper, “I will pay Rs. 1,000 to anyone who traces my missing nephew”.
- Implied Offer : An implied offer is one which is made otherwise than in words. It is inferred from the conduct of the person or the circumstances of the particular case.
Example : A bus runs on different routes to carry passengers. This is an implied offer to carry passengers for a certain fare.
II On the basis of offeree
- Specific Offer : A specific offer is one which is made to a definite person or particular group of persons. A specific offer can be accepted only by that definite person or that particular group of persons to whom it has been made.
Example :X offers to buy car from y for Rs 1.0 lakh. This offer is a specific offer which has been made to a definite person Y. No person other them Y can accept this offer. [Boulton v. Jones]
Similarly an offer made to a company is an offer to a group of persons and hence a specific offer.
- General Offer: A General offer is one which made to the world at large or public in general. A general offer can be accepted by any person by fulfilling the terms of the offer. In case of general offer, the contract is made with person who having the knowledge of the offer comes forward and acts according to the conditions of the offer.
Example : X advertised in the newspaper that he would pay Rs. 5000 to anyone who traces his missing boy. Y who knew about the reward trace the boy and informed X. Therefore, Y is entitled for reward, as he accept it and fulfills the condition.
III On the basis of Nature of offer
- Cross Offers: Two offers which are similar in all respects made by two parties to each other at the same time and in ignorance of each other’s offer are known as ‘ cross offers ‘.
Cross offers do not amount to acceptance of one’s offer by the other. Hence, no contract is entered into on cross offers.
Example X of Jaipur sends a letter by post to Y of Delhi offering to sell his car for Rs. 1 lakh. The letter is posted on 1st January and the same day. Y of Delhi sends a letter by post to X of Jaipur offering to buy X’s car for Rs 1 lakh these two letters cross each other. Y’s letter is merely an offer and not the acceptance of X’s letter. Here, both the parties are making offer and has not accepted the offer. Therefore, there is no contract. If they want to enter into a contract, at least one of them must send his acceptance to the offer made by the other.
- Counter Offer :An offer which is accepted with some conditions is treated as revoked, and such conditional and qualified acceptance is known as counter offer. A Counter offer is therefore a new offer by which original offer revoked.
Example: A offers B to sell his house for Rs. 10, 00,000. B agrees to purchase but he wants to pay the price in four installments it is a counter offer by B.
- Standing offer / Open offer / Continuing offer : An offer which is open over a period of time for acceptance is standing offer.
A standing offer is in the nature of a tender. It is the same thing as an invitation to an offer.
Example X Ltd. requires a large quantity of certain goods during the 12 months period and gives an advertisement inviting tender in the leading newspaper. Z submitted the tender to supply those goods at a specific rate. Z’s tender is accepted or approved. Now, Z’s tender becomes a standing offer. Each order given by X Ltd. will be an offer and supply of each order is an acceptance of the offer.
