Commercial law and industrial law by sen and mitra pdf
[PDF] Sen Mitra Commercial Law Including Company Law World PressX says to Y, "Will you buy my house for Rs 50,? If Y says, "Yes", the offer is accepted and a contract is formed. Proposal An "offer" involves the making of a "proposal" The term proposal is defined in the Contract Act as follows : "When one person signifies to another his willingness to do 'or to abstain from doing anything, with a view to obtaining the assent of that other to such act or abstinence, he is said to make a proposal" -Sec. The promisor or the person making the offer is called the offeror. The person to whom the offer is made is called the offeree. Promise and Acceptance "When, the person to whom the proposal is made signifies his assent thereto, the proposal is said to be accepted.
Commercial And Industrial Law