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What must be fulfilled before Offer can be accepted under Insurance policy?
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[QUOTE="Mataracy, post: 138940, member: 28733"] To constitute an offer capable of being accepted, the following conditions must be fulfilled? (1) The alleged offer must be intended by the parties making it to be an offer. The party who begins with negotiations does not necessarily make an offer thereby, he may merely indicate his readiness to consider an offer (2) The alleged offer must be complete. It must show with precision the contract in to which the party making it prepared to enter. (3) The alleged offer must be communicated to the party. (4) The alleged offer must be in force at the time when the other party purports to accept it. It should be noted further that, any offer may be revoked before acceptance; and an offer once refused ceases to be in force and cannot afterwards be accepted unless it is repeated. On the other hand, the acceptance of a proposal maybe dignified by the insurers in one of the followings ways: (1) by a former acceptance (2) by the issue of a policy (3) by acceptance of the premium (4) by the conduct of the insurers. An acceptance, lime an offer, could be made by word of mouth, by writing delivered by hand or through the post, by telephone, telex,telegram, or by conduct or other means. [/QUOTE]
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What must be fulfilled before Offer can be accepted under Insurance policy?
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