Offeree vs. Offeror

Attribute	Offeree	Offeror
Receives the offer	Yes	No
Has the option to accept or reject the offer	Yes	No
Can make a counteroffer	Yes	No
Can terminate the offer	Yes	No
Can accept the offer	Yes	No

Introduction

When it comes to contract law, two key parties involved in the formation of a contract are the offeree and the offeror. These two parties play distinct roles in the negotiation and acceptance of an offer. Understanding the attributes of both the offeree and offeror is crucial in determining the validity and enforceability of a contract. In this article, we will compare the attributes of offeree and offeror to shed light on their respective roles in contract formation.

Offeree Attributes

The offeree is the party to whom an offer is made. The offeree has the power to accept or reject the offer presented by the offeror. One key attribute of the offeree is that they have the right to accept the offer in accordance with the terms and conditions set forth by the offeror. The offeree also has the option to make a counteroffer, which can lead to further negotiations between the parties.

Another attribute of the offeree is that they must have the legal capacity to enter into a contract. This means that the offeree must be of sound mind and of legal age to be able to accept the offer. If the offeree lacks the legal capacity, the contract may be deemed voidable. Additionally, the offeree must have knowledge of the offer in order to accept it. If the offeree is unaware of the offer, they cannot be held accountable for not accepting it.

Furthermore, the offeree has the right to revoke their acceptance of an offer at any time before it is communicated to the offeror. This means that the offeree can change their mind and decide not to accept the offer, as long as the revocation is communicated to the offeror before acceptance. Once the acceptance is communicated, the offeree is bound by the terms of the contract.

In summary, the offeree has the power to accept or reject an offer, must have the legal capacity to enter into a contract, must have knowledge of the offer, and can revoke their acceptance before it is communicated to the offeror.

Offeror Attributes

The offeror is the party who makes an offer to the offeree. The offeror has the power to set the terms and conditions of the offer, which the offeree can either accept or reject. One key attribute of the offeror is that they must have the intention to create a legally binding contract with the offeree. This means that the offeror must have a serious intent to enter into a contractual agreement.

Another attribute of the offeror is that they must communicate the offer to the offeree in a clear and unambiguous manner. The offer must be definite and specific, with all essential terms outlined for the offeree to consider. If the offer is vague or uncertain, it may not be considered a valid offer. Additionally, the offeror must have the legal capacity to enter into a contract, just like the offeree.

Furthermore, the offeror has the right to revoke the offer at any time before it is accepted by the offeree. This means that the offeror can change their mind and withdraw the offer before the offeree communicates their acceptance. Once the offer is revoked, the offeree cannot accept it, and the offer is no longer valid.

In summary, the offeror has the power to make an offer, must have the intention to create a legally binding contract, must communicate the offer clearly to the offeree, and can revoke the offer before it is accepted.

Conclusion

In conclusion, the offeree and offeror play distinct roles in the formation of a contract. The offeree has the power to accept or reject an offer, must have the legal capacity to enter into a contract, and can revoke their acceptance before it is communicated to the offeror. On the other hand, the offeror has the power to make an offer, must have the intention to create a legally binding contract, must communicate the offer clearly to the offeree, and can revoke the offer before it is accepted. Understanding the attributes of both the offeree and offeror is essential in navigating the complexities of contract law and ensuring the validity and enforceability of a contract.