What is acceptance by law | Acceptance Full Details

 What is acceptance by law| Acceptance Full Details

A proposal, when accepted, results in an agreement. It is only after the acceptance of the proposal that a contract between the two parties can arise.

        According to sec2(b) "when the person to whom the proposal is made signifies his assent theroto, the proposal is said to be accepted. A proposal, when aceepted, becomes a promise."

      The person making the proposal does not become bound thereby untill it's acceptance. As soon as his proposal is accepted that is known as promise, whereby both the parties become bound.

       When the proposal or acceptance is made in words, the promise is said to be express. When the proposal or acceptance is made otherwise than in words, the promise is said to be implied.

        The offeree is not bound to accept the offer. He is free to reject it or make it to lapse by non-acceptance. Thus, it is perfectly lawful for a company not to accept the highest bid (tender) and to re-auction the goods.

         Similarly, a person inviting tenders may not accept a bid, if an essential condition of tender is not complied with.

         A person inviting tenders may reserve a power to reject all the tenders. The person submitting the highest tender cannot have a right to have his tender accepted.

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