do the same for the following: Understanding the distinction between an offer and a pre-offer phase is also fundamental. The pre-offer stage involves preliminary discussions and term exploration, without any intent to form a binding agreement. These negotiations are not enforceable unless they show clear and definite terms along with a present contractual intent. By contrast, a valid offer represents a firm expression of willingness to enter into a binding agreement, contingent upon the offeree's acceptance. Under common law, a legally valid offer must include definite termsspecifically, the price, subject matter, parties, and time of performance