Bankruptcy Section
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What makes an offer valid?
A valid offer is a promise that you intend to be held to if that offer is accepted. Also, the terms of an offer must be definite and certain and communicated to the offeree (one who may accept the offer). When Boy offers to sell Girl his house, terms such as identification of land and price must be defined. One should look to the circumstances surrounding the offer, the relationship of the parties or industry custom, and whether the offeror (one who offers) shows a willingness to commit to the contents of his offer when analyzing contract formation.
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