How is a contract made? Proposer makes an unconditional offer to the other party. The other party accepts the proposal and the proposal becomes a promise and the parties are now legally promisor and promise The promise should have consideration; if the promise does not have consideration then it is …
What is a promise? You can say in simple words that promise is an accepted proposal. When does the proposal become a promise? Proposal becomes a promise when the proposal is accepted by the promise. If the proposal is accepted a contract is made, but if the proposal is not …
Proposal Proposal is made by the proposer and if this proposal is accepted by the other party it becomes a promise and after this acceptance the conditions of the contract are binding a on both parties. A mere proposal cannot give birth to a contract because the proposal has to …
