Offeree Definition and Legal Meaning
On this page, you'll find the legal definition and meaning of Offeree, written in plain English, along with examples of how it is used.
What is Offeree?
n.person or corporation to whom an offer is made to make a contract.
History and Meaning of Offeree
An offeree is a term commonly used in contract law, which refers to the person or entity to whom a contract offer is made. The offeree is the recipient of the initial offer and has the power to accept, reject or counter-offer, which are essential components of the formation of a legally binding contract. The terms and conditions specified by the offeror apply to the offeree unless modified by the offeree's acceptance.
The concept of an offeree has been developed and refined through centuries of legal practice and jurisprudence. An individual or corporation receiving an offer for a business transaction or employment has to consider the terms set forth by the offerer carefully before making a decision on acceptance or rejection. Failure to respond to the offer within the timeframe stated (if any) may be deemed as rejection.
Examples of Offeree
A homeowner lists their property for sale at a specific price, and a potential buyer makes an offer. In this scenario, the homeowner is the offeree, and the buyer is the offeror. The homeowner may choose to accept or reject the initial offer, or counteroffer terms before reaching an agreement.
An employee receives a job offer from a potential employer detailing the salary, benefits, and job description. The employee is the offeree and has the option to accept, reject, or negotiate the contract's terms
In contract law, when one party proposes to enter into a legal relationship with another, the party making the offer acts as the offeror, and the party receiving the offer acts as the offeree.
Legal Terms Similar to Offeree
Offeror - The person, organization, or party that initiates an offer to another party, known as the offeree.
Invitation to treat - An invitation to treat is an invitation for others to make an offer to form a legally binding agreement. It is not an offer to enter into such an agreement, but rather an indication that one or both parties are interested in negotiating the terms of a potential deal.
Acceptance - Acceptance is the expression of agreement with an offer or contract, thereby creating a legally binding agreement between the parties. The offeree's acceptance must be clear and unequivocal, with no additional or modifying terms, to form a binding and enforceable contract.