1.It must be an absolute and unrestricted acceptance of all the terms of the offer: Article 7, paragraph 1). If there is a difference, even on an insignificant point, between the terms of acceptance, there is no contract. 4. Counter-offer:- A counter-offer is a rejection of the initial offer. This is a new offer that must be accepted by the original supplier before the contract is concluded. In other words, a counter-offer is a new set of conditions that are given in response to the initial offer. A counter-offer would terminate the initial offer and present the new offer to the original supplier. For example- If M N asks, you`re going to buy my guitar for INR 5,000 and N says no, but for INR 3,000, they say there`s a counter-offer. WHAT IS ACCEPTANCE? According to Sir William Anson The Conceptual Agreement of Section 2 (e) of the Indian Contract Act. An agreement can be defined as an aspect that arises when an offer from one party is accepted by the other.
2. A conditional agreement is an absolute contract by which the manager executes the contract unconditionally. On the other hand, these are tariff quota agreements for which the manager only fulfils his obligations if certain conditions are met. The insurance, compensation or warranty contracts of a common contract – they create an obligation for the project if an event that is a guarantee of the contract occurs or does not occur. In a life insurance policy, for example, the insurer pays a certain amount if the insured dies during the insurance period. The insurer only intervenes in the event of the insured`s death. It is a quota agreement. According to Section 31 of the Indian Contract Act of 1872, contingency agreements are defined as: “If two or more parties enter into a contract to do or not to do something, whether an event that is a guarantee of the contract occurs or not occurs, then it is a conditional contract.” The entire contracting process begins with the proposal or offer from one party to another. The proposal must be accepted in order to reach an agreement. Under the Indian Contract Act of 1872, the proposal is defined in Section 2, point a), “if a person tells another person that he or she is willing to do or not to do anything to obtain the consent of such an act or abstinence, it is said that he or she is making a proposal or offer.” Under Australian law, it is necessary for an acceptance to be made based on the offer or continuation of an offer.  In contract law, the acceptance of a person is consistent with the terms of an offer from another person. Acceptance is made in insurance law when an insurer agrees to receive a person`s insurance claim and issue a personal protection policy against certain risks such as fire or theft.
If a person who receives a gift from someone keeps the gift, it means that they accept it.