Offer

Definition: An offer is a communicated proposal showing a willingness to enter a contract on stated terms if the other party accepts.

Example

A buyer submits a signed proposal to purchase a specified home for $325,000, subject to the listed conditions.

Keep the distinction clear

An asking price or invitation to negotiate is not necessarily an offer that another person can accept to create a contract. Look for a definite proposal and intent to be bound.

Related terms

Counteroffer · Mutuality of Consent (Mutual Assent) · Sale Contract

Keep studying

What Strengthens a Purchase Offer? Preapproval and Earnest Money

References: Cornell LII: offer

Pronunciation (US): AW-fer (capitals show stress)

Pronunciation reference: Merriam-Webster