Termination of an offer - revocation, Business Law and Ethics

Termination of an Offer - Revocation

Such offer is "revoked" whether the offeror changes his thinking and withdraws it as for expressly or impliedly.  However to be valid such the revocation must have been as;

  1. First is made before acceptance: as Byrne v. Van Tien Hoven - in whenever it was held that a letter of revocation posted following a letter of acceptance had been posted was ineffective but the offeror did not be acquainted with the offeree had posted the letter about acceptance.
  2. Second Communicated whereas i.e. made known to the offeree - expressly or impliedly. However example of the implied revocation that is the case about Dickinson v. Dodds as study the judgment of James, L.J.

Conversely provided the aforesaid rules are complied that an offer can also be revoked yet though it was declared for be open to a given period.  Moreover the offeror can change his mind on any time previous to the period expires: as Dickinson v. Dodds

Exceptions

  1. Therefore Consideration was given to keeping the offer open. whether an offer constitutes an "Option". Thus an example is a hire purchase agreement. So the owner of goods cannot tell the hirer such he will not, subsequent to all sell the goods to him.
  2. Therefore an application to shares in a company made in response for a prospectus cannot survive withdrawn until subsequent to the expiration of the third day following the time of opening for the subscription lists. Further this is provided through the Companies Act, S. 52.
Posted Date: 1/22/2013 1:44:30 AM | Location : United States







Related Discussions:- Termination of an offer - revocation, Assignment Help, Ask Question on Termination of an offer - revocation, Get Answer, Expert's Help, Termination of an offer - revocation Discussions

Write discussion on Termination of an offer - revocation
Your posts are moderated
Related Questions
Wishes of members of parliament -Disadvantages law: However acts of Parliament do not reflect the wishes of the people as voters although the wishes of the individuals that wh

As a soon-to-be media practitioner, you will encounter many legal issues in the media industry. In this assignment, you are required to examine one main legal issue that media prac

Who would think a documentary about the collapse of a mammoth corporation could play out like a drama with the emotional power of Greek tragedy? But that is the impact of enroll:th

QUESTION 1 In the exercise of its disciplinary power an employer can terminate an employee's contract. Should an employer decide not to terminate the contract of employment, wh

The concept of separate legal personality is fundamental to company law. With close reference to leading cases, explain this concept and its relationship to the doctrine of limit

QUESTION 1 Section 39 of the Public Procurement Act provides for cancellation of a bidding process in specific circumstances. State those circumstances and the implications of

Directors liability: This was fraudulent preference and the bank must repay the sums received. The directors' liability under their guarantee to the bank then revived. A paym


Defects in Appointment: S.181 provides that a director's acts shall be valid despite any defect that may afterwards be discovered in his appointment or qualification. This pro

Question  How does the RTL Code define a 'conflict of interest'?  Give one example of how the RTL Code suggests a conflict of interest may arise.