IPA: /ˌɒf.əˈriː/
KK: /ɔːfərˈiː/
A person or party who receives an offer in a contract or agreement.
In a contract negotiation, the offeree must carefully consider the terms before accepting the offer.
Offeree → It is formed from "offer" (from Old French *oferir*, meaning to present or propose) and "-ee" (a suffix used to indicate a person who receives an action). The word "offeree" refers to a person who receives an offer.
Think of someone who is 'receiving' an 'offer' — the '-ee' indicates a person who is the recipient of the action.