1. Once a person accepts another's offer, and signifies such acceptance to the former, a contract comes into existence between them.
2. Uncertain agreements are void agreements.
3. Rejected offers can be accepted only if renewed.
FACTUAL SITUATION: Bakshi wanted to purchase a particular land. He sent a letter to his cousin. Dutt, offering him Rs.4 lakhs for it. Dutt replied that he would not sell it below 5 lakhs. Bakshi communicated his willingness to pay this amount. Dutt did not sell the land to Bakshi. Bakshi sued him for breach for contract.