Who Is the Offeror?
The offeror is the party who makes an offer to enter into a contract. The offeror proposes the terms and, by doing so, gives the other party — the offeree — the power to form a binding contract by accepting. Because the offeror sets the terms, the offeror is sometimes called the "master of the offer."
The Offeror's Powers and Limits
- The offeror defines the terms, including price, subject matter, and how acceptance must be made
- The offeror can generally revoke the offer any time before it is accepted
- Once the offeree accepts on the stated terms, the offeror is bound
Offeror in Florida Transactions
In a real estate deal, the buyer who submits a purchase offer is the offeror; if the seller responds with a counteroffer, the roles switch and the seller becomes the offeror of the new terms. Understanding who is the offeror at any given moment matters because that party controls the terms on the table and bears the consequences of revocation, lapse, or acceptance.
Related Terms
- Offer — What the offeror makes
- Acceptance — The offeree's agreement that binds the offeror
- Counteroffer — Switches who is the offeror
Barnes Walker
Barnes Walker's attorneys draft and review offers and counteroffers in Florida real estate and business transactions. Request a legal inquiry for assistance.
Reviewed by the attorneys at Barnes Walker, Goethe, Shea & Robinson, PLLC