Insanity and rejection - termination of an offer, Business Law and Ethics

Insanity and Rejection - Termination of an Offer

Insanity

Furthermore the unsoundness of mind about either party before acceptance terminates the offer.  Hence the offer only lapses whether as notice of the insanity for the one is communicated to the other.

Rejection

However this is the refusal by the offeree to accept the offer.  In additionally refusal may be express or through implication.  Since silence on the party about the offeree amounts to rejection. Because there was the case in as Felthous v Bindles.

Posted Date: 1/22/2013 1:51:24 AM | Location : United States







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