Offer at Legal Glossary
What is it? A proposal to enter into an agreement with another person. An offer must express the intent of the person making the offer to form a contract, must contain some essential terms--including the price and subject matter of the contract--and must be communicated by the person making the offer. A legally valid acceptance of the offer will create a binding contract.Law Definition Added By: Isaiah
The Offer definition has been viewed 979 Time(s)!
Send To Friends!
If you'd like to send the Offer definition to yourself or to your friends/colleagues, just enter the e-mail addresses in the boxes below -We hope you now understand the meaning of Offer. If you need any more information on this term, please don't hesitate to contact us.
Other Similar Legal Terms:
Law Terms wrongful death is Death caused by the fault of another. Examples of wrongful conduct that may lead to death include drinking and driving, manufacturing a deficient product, building an unstable structure or failing to diagnose a fatal disease.Law Terms sole proprietorship is A business owned and managed by one person (or for tax purposes, a husband and wife). For IRS purposes, a sole proprietor and her business are one tax entity, meaning that business profits are reported and taxed on the owners personal tax return. Setting up a sole proprietorship is cheap and easy since no legal formation documents need be filed with any governmental agency (although tax registration and other permit and license requirements may still apply). Once you file a fictitious name statement (assuming you dont use your own name) and obtain any required basic tax permits and business licenses, youll be in business. The main downside of a sole proprietorship is that its owner is personally liable for all business debts.
Law Terms intangible property is Personal property that has no physical existence, such as stocks, bonds, bank notes, trade secrets, patents, copyrights and trademarks. Such untouchable items may be represented by a certificate or license that fixes or approximates the value, but others (such as the goodwill or reputation of a business) are not easily valued or embodied in any instrument. Compare tangible property.
Law Terms cost basis is See basis.
Law Terms genericide is Loss of trademark protection that occurs when a specific brand name becomes identified with the entire type of product or service. For example, Xerox was in danger of losing the trademark on its name when to Xerox something was equivalent to copying it.