After reading this chapter, you will be able to:

Use vocabulary regarding offers properly.

Identify the offer as either unilateral or bilateral.

Discuss whether all necessary terms are certain in order to be considered a valid offer.

Determine whether the offer has been effectively communicated to the intended offeree.

Determine the method of creation of the offer.

Evaluate when an offer can be or has been terminated.

Identify irrevocable offers.