An offer may be defined as a statement of willingness to contract on specified terms made with the intention that, if accepted, there will arise a binding contract.

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BlackTom AI · Accepted Answer

Begin by analyzing the core idea of an offer in contract law: an offer is a definite promise or statement of willingness to enter into a contract on specified terms, with the intention that the contract will be binding upon acceptance. If this intention and specificity are present, a proposal can be capable of immediate acceptance.
Option 1 (True): This statement aligns with the classic definition of an offer. It emphasizes (a) willingness to contract on specified terms, and (b) the intention that, once accepted, a binding contract will arise. Both elements are essential: clarity of terms and the intention to be bound upon acceptance.
Option 2 (False): If one claimed this statement is false, one might argue that not every willingness to contract constitutes an offer, perhaps due to lack of intention to be bound, vagueness, or preliminary negotiations. However, the given definition explicitly includes the intention to create a binding contract if accepted and specifies terms, which is the standard criterion for an offer, making this option incorrect.
Option 3 (False): Another possible misconception is that offers must be in writing or that they require formal ceremony. In reality, many offers can be made verbally or through conduct and need not be formalized in a document. The key elements remain the intent to be bound and the definiteness of terms, which this statement provides.
Option 4 (False): Some might argue that offers can only be made to particular persons or under particular conditions. While specificity and communications to the offeree are important, the essential feature is the present willingness to contract on defined terms with intent to bind upon acceptance, which the statement captures.

In summary, the statement encapsulates the essential features of an offer: a definite proposal to enter into a contract on specified terms and the intention that acceptance will create a binding agreement. The other options would require altering or denying these foundational elements, which the statement does not do.

An offer may be defined as a statement of willingness to contract on specified terms made with the intention that, if accepted, there will arise a binding contract.

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