Section 504: Contract deemed to be made

1) If an agreement enforceable by law is concluded between two or more persons to do or abstain from doing any act, a contract shall be deemed to be concluded.

2) For the purposes of sub-section (1), a contract shall be deemed to have been concluded once the person to whom an offer has been made by another person communicates his or her acceptance thereto.

3) Once a contract is concluded, a binding legal relationship shall be created between the parties to it.

Explanation: For the purposes of this Chapter,

(1) “Offer” means an offer made by one person to another person with the intent of obtaining his or her acceptance to do or abstain from doing any act.

(2) “Acceptance” means the acceptance given by the person to whom the offer has been made in the same meaning in which the offer is made.