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

Consider the statement about an offer in contract law. 
Option 1: True. This aligns with the classic definition of an offer: a statement of willingness to contract on specified terms, made with the intention that, upon acceptance, a binding contract will arise. The key elements here are (a) willingness to contract, (b) specified terms, and (c) intention that a contract forms if accepted. When these elements are present, the statement can be considered an offer capable of immediate acceptance to form a contract. 
Option 2: False. This would only be correct if the statement failed to meet one or more essential elements. For example, if the terms were not clear or definite, or if there was no intention to create legal relations upon acceptance, then it would not constitute an offer. In many real-world contexts, expressions of interest or invitations to negotiate are not offers, but the given sentence specifically includes the core features that define an offer. Therefore, labeling it as false would mischaracterize the classic concept of an offer unless those essential elements were absent.

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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Similar Questions

A key element of a valid offer is the intent : The offeror must genuinely intend to be legally bound if the offer is accepted.

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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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