Explore the first step in contract formation: the offer, including what is required for a valid offer and when and how an offer may be terminated.
To form a contract, an offer must be made. However, an offer may not always be valid and may even be terminated by situations such as death or revocation. Today, you’ll be learning about valid and invalid offers, as well as when and how an offer may be terminated.
To start off our discussion, we’ll talk about when an offer may be valid. Next, we’ll take a look at certain types of offers that are typically invalid. After that, we’ll discuss the various methods by which an offer may be...