In the world of contract law, the term “offeror” is commonly used to refer to a party who makes an offer to another party. Understanding who the offeror is in a contract is crucial to understanding the terms and obligations of the agreement. In this article, we will take a closer look at what an offeror is in the law of contract.

An offeror is commonly defined as a person, company, or entity that proposes or makes an offer to another party, known as the offeree. In this context, an offer refers to an expression of willingness to enter into a contractual agreement on specific terms. The offeror is responsible for setting out the terms and conditions of the contract, including the price, delivery time, and other key elements.

Once the offer has been made, the offeree can either accept or reject the offer. If the offeree accepts the offer, then a contract is formed between the two parties. At this point, the offeror becomes bound by the terms and conditions of the contract, just as the offeree is.

It is important to note that an offeror is not the same as a promisor. A promisor is a party who makes a promise to another party, whereas an offeror is a party who makes an offer. While both parties are making a commitment, an offeror is offering to enter into a contract, whereas a promisor is simply making a promise.

There are a few essential elements that must be present for an offer to be valid. Firstly, the offer must be clear and unambiguous. It must be specific and must include all the essential terms and conditions of the contract. Secondly, the offer must be made with the intent of creating a legally binding contract. Thirdly, the offeree must be aware of the offer and must have the opportunity to accept or reject it.

In summary, an offeror is a party who makes an offer to another party in a contract. The offeror is responsible for setting out the terms and conditions of the contract and becomes bound by them once the offer is accepted. Understanding the role of the offeror is crucial to understanding the key elements of contracts and the legal implications of entering into them.