An offeree is a party to whom an offer is made in a contract negotiation or transaction. The offeree has the opportunity to accept, reject, or propose modifications to the offer presented by the offeror. In the context of contract law, the offeree’s response to the offer determines whether a binding agreement is formed. If the offeree accepts the terms of the offer as presented by the offeror without any modifications, a legally enforceable contract is typically created. However, if the offeree rejects the offer or proposes counter terms, the original offer is terminated, and negotiations may continue until both parties reach mutual agreement or decide not to proceed further. It’s important to note that an offeree must have the legal capacity to enter into a contract, and certain offers may be revoked by the offeror before acceptance occurs.
n. a person or entity to whom an offer to enter into a contract is made by another (the offeror).
An offeree is a party to whom an offer is made in a contract negotiation. The offeree has the option to accept, reject, or counter the offer.
Any individual, organisation, or entity that is capable of entering into a contract can be an offeree. This includes individuals, businesses, corporations, government agencies, and other legal entities.
The offeree plays a crucial role in contract formation by receiving an offer from the offeror and having the option to accept, reject, or negotiate the terms of the offer. Acceptance by the offeree creates a binding contract between the parties.
Generally, an offeree can accept only one offer at a time. Acceptance of one offer typically terminates other offers previously made by the same offeror, as acceptance creates a binding contract.
If an offeree rejects an offer, the offer is considered terminated, and the parties are not bound by its terms. The offeror may choose to make a new offer, but the original offer cannot be accepted after rejection.
Yes, an offeree can propose modifications to the terms of an offer through a counteroffer. A counteroffer serves as a rejection of the original offer and a new offer with modified terms.
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This glossary post was last updated: 29th March, 2024.
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