Musa places the bicycle for sale at #800.00 and Dada had agreed to pay the amount. In this transaction, Musa is the

Assessment: WAEC SSCE - Commerce - 1996 (Objective) Subject: Commerce

Question 1 Report

Musa places the bicycle for sale at #800.00 and Dada had agreed to pay the amount. In this transaction, Musa is the
Answer Details
In this transaction, Musa is the offerer. An offer is a proposal by one party (offerer) to another (offeree) indicating a willingness to enter into a contract on certain terms without further negotiation. By placing the bicycle for sale at a price of #800.00, Musa is making an offer to sell the bicycle to Dada. If Dada accepts the offer by agreeing to pay the #800.00, a contract is formed between the two parties. Therefore, Musa is the offerer in this transaction.
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