An offer is the first step in the contract formation process.

Contract Formation

The process by which parties reach an agreement on the terms of a contract, creating mutual obligations enforceable by law.

Acquaint yourself with the standards for a valid offer that encompass present intention, concreteness, and the act of communicating.

Verified Answer

Final Answer :

True

Explanation :

An offer is the critically important first step in the contract formation process.

Learning Objectives

Acquaint yourself with the standards for a valid offer that encompass present intention, concreteness, and the act of communicating.