- ITo bring to or before; to present for acceptance or rejection; to hold out or proffer; to make a proposal to; to exhibit something that may be taken or received or not. To attempt or endeavor; to make an effort to effect some object, as, to offer to bribe; in this sense used principally in criminal law. In trial practice, to "offer" evidence is to state its nature and purport, or to recite what is expected to be proved by a given witness or document, and demand its admission.See offer of proofIIA proposal to do a thing or pay an amount, usually accompanied by an expected acceptance, counter-offer, return promise or act. A manifestation of willingness to enter into a bargain, so made as to justify another person in understanding that his assent to that bargain is invited and will conclude it. Restatement, Second, Contracts, No. 24.A promise; a commitment to do or refrain from doing some specified thing in the future. An act on the part of one person whereby that person gives to another the legal power of creating the obligation called contract. McCarty v. Verson Allsteel Press Co., 44 Ill.Dec. 570, 576, 89 Ill.App.3d 498, 411 N.E.2d 936, 942. The offer creates a power of acceptance permitting the offeree by accepting the offer to transform the offerer's promise into a contractual obligation.See also offer and acceptance.An attempt; endeavor.With respect to securities, the price at which a person is ready to sell. Opposed to bid, the price at which one is ready to buy.See also offering.See also bid- irrevocable offer- issue- offer and acceptance- promise- proposal- public exchange offer- tender- utter.- offer and acceptance- offeree- offering@ irrevocable offerOne which may not be withdrawn after it has been communicated without the consent of the offeree.+ irrevocable offerAn offer which cannot be revoked or recalled by the offerer without liability. U.C.C. 2-205.See firm offer@ public exchange offerA technique by which an aggressor corporation seeks to obtain control over a target corporation by offering to exchange a package of its securities for the target corporation's voting shares. Usually, a specified number of target corporation shares must be presented for exchange before the exchange will take placeSee offering@ offer and acceptanceIn a bilateral contract, the two elements which constitute mutual assent, a requirement of the contract.In a unilateral contract, the acceptance is generally the act or performance of the offeree, though, in most jurisdictions, a promise to perform is inferred if the offeree commences the undertaking and the offerer attempts to revoke before the offeree has had an opportunity to complete the act.See also offer- parol evidence rule@
Black's law dictionary. HENRY CAMPBELL BLACK, M. A.. 1990.