However, during the same period, on January 6, another oil company, Texaco, came into the picture as it publicly announced that Texaco and Getty Oil would merge. Pennzoil protested the proposed merger, and Getty Oil filed a law suit for the court to issue a declaratory judgment that it was not bound by any contract it had with Pennzoil.
On Offer acceptance there is either a contract generated or a pro forma invoice generated. Since the offer is binding once accepted, the offer if well enough detailed and advised can and often does take the place of the contract. Customarily in Real Estate transactions the purchase offer itself is generally also the contract for purchase as well. The offer becomes a binding contract once accepted.