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BBA smu solved assignments BBA 301: Legal and Regulatory Framework Q1. Explain the clause related to the acceptance of proposal and the mandatory conditions attached with it.

AnswerICA states: “A proposal is said to be accepted when the person to whom the proposal is made signifies his assent thereto. A proposal when accepted becomes a promise.” The offered agrees to be bound by the terms of the offer by accepting it. Acceptance of offer must fulfill the following conditions:

·         It must be absolute, unqualified and unconditional.
·         Only the offered himself or a person authorized by him can accept the offer.
·         It must be communicated to the offered within the prescribed or reasonable time otherwise the
offer may lapse.
·         Acceptance communicated to an unauthorized person is not valid.
·         It must be expressed in some usual and reasonable manner.
·         It must be made in the manner specified in the offer otherwise the proposer may, within a reasonable time, insist that it be given in the prescribed manner.
·         Conditional acceptance or qualified acceptance is no acceptance.

‘Express/ Implied’ and ‘Specific/ General’ offers and acceptances

a. Express / Implied:

i) Express offers and acceptances are made in words, spoken or written. For example, A offers to sell his house to B for a specified sum either verbally or in writing and B agrees.
ii) Implied offers and acceptances are offers not made in words but inferred from the conduct of a party or circumstances of the case.

For example, the electricity board does not send letters to people but the offer to sell electricity is implied.

b. Specific / General:

i) Specific offers and acceptances: A specific offer is made to a particular person or a group of persons and only he/they are competent to accept the offer. A specific acceptance can be made only by the person or a group of persons to whom the offer has been made.
ii) General Offers: A general offer is made to the world at large and not to a particular person or a group of persons. A general offer can be accepted by any member of the general public by fulfilling the terms of the offer.

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