In this Act, unless the context otherwise requires—

“acceptance” means an assent to an offer made by a person to whom the offer is made;

“agreement” means a promise or a set of promises forming the consideration for each other;

“coercion” means the commission or threatening to commit any act forbidden under any law or the unlawful detaining or threatening to detain any property, to the prejudice of any person with the intention of causing any person to enter into an agreement;

“consent” means agreement of two or more persons obtained freely, upon the same thing in the same sense;

“consideration” means a right, interest, profit or benefit accruing to one party or forbearance, detriment, loss or responsibility given, suffered or undertaken by the other party;

“consideration for a promise” means where, at the desire of a promisor, a promisee or any other person does or abstains from doing or promises to do or to abstain from doing something;

“contingent contract” means a contract to do something or not to do something where an event, collateral to a contract, does or does not happen;

“contract” means an agreement enforceable by law as defined in section 9;

“currency point” has the value assigned to it in the Schedule to this Act;

"documents of title to goods" includes any bill of lading, dock warrant, warehouse keeper's certificate, warrant or order for the delivery of goods and any other document used in the ordinary course of business as proof of possession or control of goods or which authorises or purports to authorise, either by endorsement or by delivery, the possessor of the document to transfer or receive goods represented by the document;

“mercantile agent” means a person who in the ordinary course of his or her business, has authority either to sell goods, or to consign goods for the purposes of sale, or to buy goods or raise money on the security of goods;

"misrepresentation" means—

“offer” means the willingness to do or to abstain from doing anything signified by a person to another, with a view to obtaining the assent of that other person to the act or abstinence;

“promise” means an offer that is accepted;

“promisee” means the person who accepts an offer;

“promisor” means the person who makes an offer;

“reciprocal promises” mean promises that form the consideration or part of the consideration for each other;

“void agreement” means an agreement that is not enforceable by law;

“voidable contract” means an agreement which is enforceable by law at the option of a party to a contract but not at the option of the other party and a contract which ceases to be enforceable by law and which becomes void when it ceases to be enforceable.

(1)The communication of an offer is made by an act or omission of a party who proposes the offer, by which that party intends to communicate the offer or which has the effect of communicating the offer.

(2)The communication of acceptance of an offer is made by an act or omission of a party who accepts the offer, by which that party intends to communicate the acceptance or which has the effect of communicating the acceptance.

(3)The communication of revocation of an offer or acceptance is made by any act or omission of a party who revokes the offer or acceptance, respectively, by which that party intends to communicate the revocation or which has the effect of communicating the revocation.

(1)Communication of an offer is complete when it comes to the knowledge of the person to whom it is made.

(2)Communication of an acceptance is complete—

(3)Communication of a revocation is complete—

(1)An offer may be revoked at any time before the communication of its acceptance is completed.

(2)An acceptance may be revoked at any time before the communication of the acceptance is complete.

An offer is revoked by—