A contract is an agreement between two parties which is enforceable by law. The offeror, also known as the seller, is the person who is making the offer and the offeree is the person to whom the offer is being made to. In order to form a contract, both parties should accept the offer and once the offer is accepted, offeror and offeree are in a legal binding. Also after purchasing a good or service, we enter into a legal agreement with the offeror. For example, a dry cleaning service. The dry cleaning service provider will have laid out terms and conditions for the servicing that it is providing. There some sort of contract involved in everything we do or buy and it is an essential part of businesses as well.
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