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Offer
According to Section 2 (a) of the Indian Contract Act, 1872, An offer is an
expression of a person showing his willingness to another person to do
or not to do something, to obtain his consent on such expression. The
acceptance of the offer by such person may result in a valid contract. An
offer must be definite, certain and complete in all respects. It must be
communicated to the party to whom it is made. The offer is legally
binding on the parties.

There are following types of offer:

1. General offer: The type of offer which is made to the public at
large.
2. Specific offer: The type of offer made to a particular person.
3. Cross offer: When the parties to the contract accept each others
offer in ignorance of the original offer, it is known as the cross offer.
4. Counter offer: This is another type of offer in which the offeree
does not accept the original offer, but after modifying the terms
and conditions accept it, it is termed as a counter offer.
5. Standing offer: An offer which is made to public as a whole as well
as it remains open for a specific period for acceptance it is known
as Standing offer.

Example:
A tells to B,I want to sell my motorcycle to you at Rs. 30,000, Will you
purchase it?
X says to Y,I want to purchase your car for Rs. 2,00,000, Will you sell it
to me?

Invitation to offer (treat)

An Invitation to Offer is an act before an offer, in which one person
induces another person to make an offer to him, it is known as invitation
to offer. When appropriately responded by the other party, an invitation
to offer results in an offer. It is made to the general public with intent to
receive offers and negotiate the terms on which the contract is created.

The invitation to offer is made to inform the public, the terms and
conditions on which a person is interested in entering into a contract
with the other party. Although the former party is not an offeror as he is
not making an offer instead, he is stimulating people to offer him.
Therefore, the acceptance does not amount to a contract, but an offer.
When the former party accepts, the offer made by the other parties, it
becomes a contract, which is binding on the parties.
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Example:
Menu card of a restaurant showing the prices of food items.
Railway timetable on which the train timings and fares are shown.
Government Tender
A Company invites application from public to subscribe for its
shares.
Recruitment advertisement inviting application.
Key Differences Between Offer and Invitation to Offer (Treat)
The following are the major differences between offer and invitation to
offer.
1. An offer is the final willingness of the party to create legal relations.
An invitation to offer is not the final willingness but the interest of
the party to invite public to offer him.
2. An offer is defined in section 2 (a) of the Indian Contract Act, 1872.
Conversely, an invitation to offer is not defined in the Indian
Contract Act, 1872.
3. An offer is an essential element to make an agreement between
the parties, but an invitation to offer is not an important element
until it becomes an offer.
4. An offer becomes an agreement when accepted. On the other
hand, an invitation to offer becomes an offer when the public
responds to it.
5. The main objective of making an offer is to enter into the contract,
whereas the main objective of an invitation to offer is to negotiate
the terms on which the contract can be made.

Wagering Agreement or contract of Wager

The term 'Wager' literally means bet. It has not been defined under
section 30 of the Indian contract Act. Sir William Anson defines "wager"
as a promise to give money or money's worth upon the determination or
ascertainment of an uncertain event.

A wagering contract is one by which two persons, professing to hold

opposite views touching the issue of a future uncertain event mutually
agreed dependent upon the determination of the event that one shall
win from the other a sum of money, neither of the contracting parties
having any other interest.

According to Section 30 of the Indian contract Act, 1872 wagering

agreements are void. Agreements by way of wager are void and no suit
shall be brought for recovering anything alleged to be won on any
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wager, or entrusted to any person to abide by the result of any game or

other uncertain event on which any wager is made.

Standard form of contract

A standard form contract is a contract between two parties that does
not allow for negotiation, i.e. take it or leave it. Sometimes it is referred
to an adhesion contract or boilerplate contract. It is often a contract that
is entered into between unequal bargaining partners. Its a type of
contract, a legally binding agreement between two parties to do a
certain thing, in which one side has all the bargaining power and uses it
to write the contract primarily to his or her advantage.

Lapse of Offer
Automatic 'closing' of an offer. Although no offer remains 'open'
indefinitely, a properly communicated written offer is said to be open
until it is revoked by the offeror before its acceptance or lapses due to
(1) non-acceptance before its expiration date,
(2) non-acceptance within a reasonable period (where no expiration
date is specified),
(3) the death either of the offeror or the offeree before its acceptance,
or
(4) having become illegal or impossible by the operation of law.
An orally communicated offer lapses when the conversation ends,
except where the continuation of the offer is clearly understood by both
the offeror and the offeree.

Coercion (Section 15)

Coercion is a process, by which consent is obtained by threatening to
commit an act punishable under the Indian Penal code, 1860.

Section 15 of the Indian Contract Act defines coercion as the

committing or threatening to commit, any act forbidden by the I.P.C or
the lawful detaining or threatening to detain, any property to the
prejudice of any person whatever with the intention of causing any
person to enter into an agreement.