Can you revoke acceptance of an offer?

Can you revoke acceptance of an offer?

Revoking an Offer Whoever makes an offer can revoke it as long as it hasn’t yet been accepted. This means that if you make an offer and the other party wants some time to think it through, or makes a counteroffer with changed terms, you can revoke your original offer.

How and when can an offer and acceptance be revoked?

ACCORDING TO SECTION 5 OF THE CONTRACT ACT Hence, an offer can be revoked at any time before the letter of acceptance has been posted. For example, A offers by letter to sell his car to B at a certain price. A may revoke his offer at any time before B posts his letter of acceptance, but not afterwards.

Can acceptance be revoked in contract law?

Revocation means an offer is withdrawn by the offerer. The general rule was established in Payne v Cave [1] that an offer can be revoked at any time before acceptance takes place. Contrary, once the offer has been accepted and acted upon, it cannot be revoked, the incompliance of it would be a breach of contract.

When can an offer not be revoked?

If there is a promise to hold the offer open but no specific time period is laid out, the offer cannot be revoked for a reasonable amount of time. However, whether the time period is specifically laid out or not, an offer cannot be held open for longer than three months.

In which case is an offer revoked?

Revocation of unilateral contract offers: The same general rule applies to the revocation of unilateral contract offers. The offeror can revoke an offer for a unilateral contract before acceptance by the offeree. With unilateral contract offers too, the revocation must be communicated by the offeror to the offeree.

Can an acceptor revoke the acceptance after they have posted the letter of acceptance?

Q: Can an acceptor revoke the acceptance after they have mailed the letter of acceptance? Ans: Yes. The acceptor can revoke the offer until the communication of the acceptance is complete against the said acceptor. Such communication is complete when the proposer receives the letter of acceptance.

Can silence ever be treated as an acceptance?

An offeree s silence cannot amount to acceptance, once again. Another principle involved in acceptance is that it should be given by the offeree himself and not any third party. An acceptance by an unauthorized person is not valid.

What are the legal rules of acceptance?

Rules regarding Valid Acceptance

• 1] Acceptance can only be given to whom the offer was made.
• 2] It has to be absolute and unqualified.
• 3] Acceptance must be communicated.
• 4] It must be in the prescribed mode.
• 5] Implied Acceptance.

When can an offer lapse?

An offer lapses if one or more conditions are not fulfilled. An offer to buy goods, for example, is made on the assumption that they will remain in the same condition until acceptance; it lapses if that ceases to be the case. See also rejection of offer; revocation of offer.

How can an offer be revoked explain with examples?

Offer may be revoked by a communication of a notice of revocation by the offeree to the other party before acceptance is complete against the offerer himself. An offer made in writing may be revoked by words of mouth. A notice of revocation to be effective must be communicated to the offeree. (2) By lapse of time.

Is a forbidden by law?

Option ‘2’ is the correct answer i.e. illegal agreement. Illegal agreement is forbidden by law. In business law an illegal agreement is a contract that was made for an illegal motive and is therefore against the law.

Does silence amount to acceptance case law?

The untimely acceptance of an offer. Such an acceptance is not valid although it does have the legal status of a counteroffer. The general rule is that silence does not constitute acceptance.