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What is cross offer and counter offer?
Cross offer - When the offers made by two persons to each other containing similar terms of bargain cross each other in post they are known as cross offers. For example, on 1st January A offers to sell his radio set to B for Rs. 500/- through a letter sent by post. On the same date B also writes to A making an offer to purchase A's radio set for Rs. 500 /- When A or B send their letters they do not know about the offer which is being made by the other side. In these cross offers, even though both the parties intend the same bargain, there arises no contract. A contract could arise only if either A or B , after having the knowledge of the offer, had accepted the same.Counter Offer - A counter offer amounts to rejection of the original offer.Legal effect of counter offer:-(i) Rejection of original offer(ii) The original offer is lapsed(iii) A counter offer result is a new offer.For example -A offered to sell his pen to B for Rs.1,000. B replied, " I am ready to pay Rs.950." On A's refusal to sell at this price, B agreed to pay Rs.1,000. Held, there was not contract as the acceptance to buy it for Rs.950 was a counter offer, i.e. rejection of the offer of A. Subsequent acceptance to pay Rs.1,000 is a fresh offer from B to which A was not bound to give his acceptance.Answered by Kirankumar.G(CMA)
Difference between the bid price and offer price?
The ''bid price'' is the price at which an investor can sell the securities he/she holds. The ''offer price is the price at which an investor can buy securities.
What is the difference between between stock and supply?
supply refer quantity of a commodity offer for sale at a particular place at a particular time stock is excess of goods available in the market over the quantity of goods offer for sale
What is the difference between offer and invitation to trade?
offer is a legal step in the start of a contract. invitation to trade is just that. An invitation to any and all parties interested in engaging in contract talks.
What is the difference between an offer and an invitation to negotiate?
An offer represents an explicit unilateral extension deal terms for an agreement/transaction. An invitation to negotiation is extending the opportunity for bi and multilateral discussions ideally towards an offer and ultimate resolution.
