Individuals are creating unqualified willingness to enter into agreement on the terms of the offer. You either agree or don"t agree with the promise of offer. Counteroffer the other person does the acceptance of the counteroffer. Communication of the acceptance must be complete need to get confirmation that other party received your acceptance prove that someone received your acceptance. Stocks time it sent to time you receive acceptance supercomputers are doing other transactions with the money. Communication how is contract formed verbally either a response or conduct who said what and how do you prove it. Carlill vs. carbolic smoke ball unilateral contract fact that there is a reward creates obligation when other party fulfills the obligations. Is the price paid for a promise fair market value if you buy a car for a dollar that"s a donation not a contract does not apply contract law. Gratuitous promise promise for which there is no consideration.