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Contract Law- Offer and Acceptance Shabana Riaz Supervision Group 10 The given problem is concerned with whether or not an agreement has come into existence between Astonia PLC, and any of the three local companies, to sell them the widget machine. A contract is generally regarded as an agreement, which the courts will treat as binding, and where necessary, may enforce. One of the basic prerequisites for the existence of a contract is an offer and an acceptance of that offer, which together form the agreement. Most contracts are usually bilateral and an agreement comes into existence where one party makes an offer to be contractually bound by specified terms to another party who accepts the terms and communicates this to the offeror. It is the communication of the acceptance that makes the agreement binding. A contract can also be unilateral, here one party makes a conditional offer to another in return for...

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