Which of the following is considered a valid offer?

A valid offer in contract law is defined as a clear and definite proposal made by one party (the offeror) to another party (the offeree) that expresses a willingness to enter into a contract on certain terms. The characteristics of a valid offer include definiteness in terms, intent to create legal relations, and communication to the offeree.

In the context of the choices provided, a newspaper advertisement for Arabian horses can be deemed a valid offer if it includes specific terms such as price and quantity and indicates a willingness to sell. If such an advertisement provides enough detail about the horses being sold and leaves no ambiguity regarding the offer, it can indeed create a binding agreement upon acceptance by a potential buyer.

In contrast, a grocery store circular listing prices is often considered an invitation to negotiate rather than a binding offer, as it does not constitute a definite agreement until a customer attempts to make a purchase. Likewise, a statement expressing intent to sell shares is merely an expression of interest and does not represent a definite offer unless it specifies terms and conditions. Lastly, a comfort offer made in jest carries no seriousness and therefore cannot be enforced in a legal sense, as intent to create a legal obligation is absent.

Thus, the advertisement for Arabian horses is the