Define Tender and state any three requirements of valid contract.

Define Tender and state any three requirements of valid contract.

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Answer :

Meaning Tender:- Tender is offer or invitation of the work between any two parties. This offer may be written or non written. This offer is given by party no.1 (owner) to party no.2 (contractor- who has to complete the project work).


Following requirements of valid contract: 1. Contract should be written. 2. Contract should be signed by proper witness 3. Contractor licenses should be valid. 4. Contract should be signed by competent authority. 5. Contract should be signed by proper authorized persons. 6. It should be legally challenged in the court.

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