Aoffer@ and Aacceptance@

An "Offer" is a proposal made by one party to another, expressing the willingness to enter into a contract under specific terms. For example, proposing to sell a car for $5,000 is an offer. "Acceptance" occurs when the other party agrees to those terms exactly as proposed, creating a binding agreement. This acceptance must be communicated clearly and within any specified timeframe. Together, an offer and acceptance form the basis of a voluntary contract, ensuring both parties agree to the same terms before obligations commence.