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Offer And

Acceptance
Offer:

When one person signifies to another his
willingness to do or to abstain from
doing any thing, with a view to obtaining
the assent of that other to such or
abstinence, he said to make a proposal.
Essentials of Valid Offer:
Express or Implied
Legal Relations
Definite & Clear
Different from invitation to
offer.
Specific or General
Communication with Offeree.
Negative Condition.
Conditions in Offer.
Cross Offers.


Revocation of Offer:
An offer may revoke in any of the following
ways:
Notice of Revocation:
An offer can be revoked by sending a
notice of revocation to the other party.
Lapse of Time:
When the offer is kept open for a specified
time period. If the offer does not specify
any time period terminates after lapse of a
reasonable time.
Failure to Fulfill Condition:
If an offer contains some conditions and
the offeree fails to fulfill these conditions,
the offer terminates.
Death or Insanity of Offeror:
An offer terminates on death of the offeror,
if the offeree comes to know about the
death of offeror before his acceptance.
Revocation of Offer by Offeree:
If the offeree rejects the offer and
communicates the rejection to the
offeror, the offer terminates even
though the period for acceptance.
Counter Offer by Offeree:
When an offer is accepted with some
change in the terms of offer, such
acceptance is called counter offer.
Death or Insanity of Offeree:
An offer can be accepted only by the
offeree. It cannot be accepted by his legal
representatives upon his death.
Subsequent Illegality:
An offer lapses if it becomes illegal before
its acceptance.
Destruction of Subject Matter:
An offer lapses if the subject matter of the
offer is destroyed before its acceptance by
the offeree.
Prescribed Manner:
If the offeror prescribes the manner of
acceptance, the offer terminates if the
offeree does not accept it according to the
prescribed manner.
Acceptance:
When the person to whom the proposal
is made signifies his assent thereto, the
proposal is said to be accepted. A
proposal , when accepted, becomes a
promise.
Essentials of Valid Acceptance:
Acceptance by Offeree.
Absolute & Unconditional
Prescribed Manner
Communication with Offeror
Express or Implied
Acceptance after Offer
Reasonable time
Communication of Offer:
The communication of a proposal is
complete when it comes to the
knowledge of the person to whom it is
made.
Communication of Acceptance:
The communication of an acceptance is
complete:
a. As against the proposer, when it is put
in course of transmission to him, so as
to be out of power of the acceptor.
b. As against the acceptor, when it comes
to the knowledge of the proposer.
Communication of Revocation:
Revocation means cancellation there
may be a revocation of offer and
acceptance. The communication of a
revocation is complete:

As against the person who make it.
As against the person to whom it is
made, when it comes to his knowledge.