The difference between an offer and an invitation to treat.
By Michael Ifeanyichukwu Ndubuisi
1 week ago
- Top Stories
An offer is one of the essential elements of a contract. Without an offer there would be no contract. An offer is a proposition made by an offeror indicating in clear and precise terms the way the offeror is willing to engage in a contract with the offeree. Once an offer has been accepted, the offeror is bound legally to fulfill it.
On the other hand, an invitation to treat is a preliminary to an offer. It is an offer to haggle, bargain. It is an invitation to sales. Hence, an invitation to sales is not binding to the offeror.[NewsNaira]
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