Offeror Definition and Legal Meaning
On this page, you'll find the legal definition and meaning of Offeror, written in plain English, along with examples of how it is used.
What is Offeror?
person or corporation who puts forward an offer to someone else to make a contract.
History and Meaning of Offeror
An offeror is the individual or entity that issues an offer that can be accepted to form a binding contract. In contract law, an offeror is distinguished from an offeree, which is the individual or entity that has the power to accept or reject the offer made by the offeror.
Examples of Offeror
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A company issues an offer to purchase shares of another company, making the offeror the company making the offer and the offeree the company being offered for purchase.
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In a real estate transaction, the seller making an offer to a potential buyer would be the offeror.
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An individual who offers to sell their car to a friend, with specific terms and details, would be considered the offeror.
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A landlord who offers a lease agreement to a tenant would be considered the offeror, while the potential tenant is the offeree.
Legal Terms Similar to Offeror
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Offeree: This is the individual or entity that has the power to accept or reject the offer made by the offeror.
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Counteroffer: This is an offer made in response to another offer, but with modified terms. The original offeror becomes the offeree, and the original offeree becomes the offeror.
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Invitation to Treat: This is the act of inviting someone to make an offer, such as when a store displays merchandise with a price tag. The store is inviting customers to make an offer to purchase, which the store can then accept or reject.