Business and Corporate Law Essay Example | Topics and Well Written Essays - 1500 words

Business and Corporate Law - Essay Example Both offer and acceptance constitute a part of an agreement, which is in turn an element of a contract. An offer can be defined as an option given by an individual which he has agreed to and would not revoke until a specified set of period (Evans p. 145). In order to facilitate the order of business in the market, the parties involved sign a contract based on mutual consent and understanding. The agreement over the contract, however, relates to the offer and agreement and only on the accumulation of both can a successful agreement be reached. Generally, the offeror begins with decision so as to make an offer, after which he deems necessary to communicate it to the relevant party. Then, the offeree may accept the offer after which it is necessary for him to communicate the acceptance. However, the acceptance occurs formally only when the offeror receives the acceptance. In the middle of such scenarios, there may be many different technicalities, where the offeree may also request to m ake changes in the offer, or may even ask for further information. Other parties may also be involved for smooth disposal of agreement. However, in the context of the issue being discussed, the child or an under-age individual is an offeree, and the author is arguing over the situational contexts where the section 7 could be applied. In the view of the author, the offer must not be made to an under-age individuals in any case, not even when he acts of someone else`s behalf to accept an offer. Thus, in any case, any individual under the age of 18 must not enter into a transaction of sale otherwise banned to him; otherwise it would be breach of the law. Furthermore, prior to understanding the argument, there must be a discussion over the Section 7 of the Children and Young Persons Act of Parliament, which solely focuses on the rules of business regarding the sale of tobacco