Goods displayed in a shop with price is*OfferAcceptanceCounter offerInvitation to offer
Question
Goods displayed in a shop with price is*OfferAcceptanceCounter offerInvitation to offer
Solution
The goods displayed in a shop with a price is an "Invitation to offer".
Here's the step by step explanation:
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"Offer": This is when one party expresses their willingness to enter into a contract on certain terms and intends to be bound by these terms once it is accepted by the other party. In this case, the goods displayed in a shop is not an offer because the shopkeeper is not bound to sell the goods at the displayed price.
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"Acceptance": This is when the other party agrees to the terms of the offer. In this case, the customer accepting to buy the goods at the displayed price is acceptance.
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"Counter offer": This is when the other party responds to the offer by proposing a new offer. In this case, if the customer proposes to buy the goods at a lower price, that's a counter offer.
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"Invitation to offer": This is when one party invites others to make an offer to form a contract. In this case, the goods displayed in a shop with a price is an invitation to offer because the shopkeeper is inviting customers to make an offer to buy the goods.
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