In principle, the withdrawal of a firm offer before the expiry of the period indicated has the same effect as the withdrawal of an ordinary offer. For example, if Michael offers on September 1 to sell his land to Scottie and agrees to keep the offer open until September 15, Michael can effectively revoke the offer before the fifteen-day period expires. The restatement defines the offerThe proposal on which the contract is based. “the manifestation of the will to enter into an agreement that has been made to justify another person, understanding that his devotion is invited to this agreement and that it will be concluded”. Reformulation (second) of contracts, section 24. This definition contains two key elements: the offer must be communicated and it must be final. Before considering these requirements, we consider the issue of the threshold of intent for an offer. Let`s look at proposals that look like offers, but are not. A conditional or qualified acceptance is an assumption that supplements or modifies the terms of the initial offer. This is essentially a counter-offer.
Conditional or qualified acceptance generally terminates the bidder`s acceptance conditions. For example, for a revocation to be effective, it must be notified to the tenderer by the tenderer. There are, however, two exceptions to this rule. The test of creating a binding obligation in advertisements to the general public is to know “whether the facts show that a service has been promised positively in exchange for something requested”. 1 Williston, Contracts (Rev. ed.) 27. There are many authorities which consider that a complaint given in a newspaper or circular concerning the sale of articles can be interpreted by the court as an offer whose acceptance would conclude a contract. [Quotes] On 1 June, A, a manufacturer, faxed B, owner of a paper mill, and offered to sell him a tonne of standard quality A4 paper for £500. On 3 June at 10 p.m., B faxed an acceptance to A. Later that night, B changes his mind and sends an email revoking his acceptance to A`s private email address.
At 9 a.m. the next day, A opened his store as usual and immediately saw the fax. Two hours later, he checks his private email box (from his store) and reads B`s payment. Which of the following statements best describes the legal situation between A and B? A tender may be terminated due to the refusal of the offeror, i.e. if the tenderer does not accept the terms of the tender or makes a counter-tender as indicated above….