What is the expression of willingness to enter into a contractual agreement called?

The expression of willingness to enter into a contractual agreement is referred to as an offer. An offer is a definitive proposal made by one party to another, indicating a readiness to enter into a legally binding agreement under specified terms. This expression demonstrates the intention to create a contract, and it is an essential element in the formation of contract law.

For a contract to be valid, there must be an offer made by one party, which the other party can accept. The offer outlines the terms and conditions of the proposed agreement, making it possible for the other party to understand what is being proposed. Once the offer is accepted, it can lead to the formation of a contract, which is binding.

In contrast, a proposal may suggest an idea or plan without the formal intention of creating a contract. Acceptance, while closely related, refers specifically to the agreement of the other party to the terms of the offer, rather than the act of making that initial offer itself. Negotiation involves discussions and modifications of terms between parties, but it doesn't constitute the initial expression of willingness to enter into a contractual agreement.