"To constitute a binding contract between parties, there must be a meeting of the mind often referred to as consensus ad idem.

The mutual consent relates to offer and acceptance.

An offer is the expression by a party of readiness to contract on the terms specified by him which if accepted by the offeree gives rise to a binding contract. The offer matures to a contract where the offeree signifies a clear and unequivocal intention to accept the offer. See: Okugbule & Anor. v. Oyagbola & Ors (1990) 4 NWLR (Pt. 147) 723.

It should be reiterated that in order to establish that parties have formed a contract, there must be evidence of consensus ad idem between them. Then if there is a stipulated mode for acceptance of the offer, the offeree has a duty to comply with same. See: Afolabi v. Polymera Industries (1967) 1 All NLR 144.

The acceptance must correspond with the term of the offer. If it purports to qualify the offer, it may amount to a counter-offer and not an acceptance. It may amount to rejection of the offer. It also destroys that offer so that cannot subsequently be accepted."

Per FABIYI, J.S.C. in Bilante International Ltd. V. Nigeria Deposit Insurance Corporation (2011) 6-7 SC (Pt. IV) 113 60.