An offer that has been accepted becomes an agreement between both the parties and hence cannot be revoked unless it is in writing
the original offer is revoked by counter offer
Two important rules govern revocation: an offer can be revoked any time before it is accepted, and a revocation becomes effective when it it received by or communicated to the offeree.
Yes you can be sued for breach of contract. A verbal agreement can be considered a contract and the fact that you accepted a deposit suggests that you and the buyer had reached an agreement.
Well first, "in a Unilateral contract the offer cannot be revoked if the offeree has begun or has substantially completed performance. (Cheeseman 2010)" however In my opinion he just made the bid and after the offeree accepted them is created a contract so they have not yet sign any type of contract. anyway according to the law if the offer is one that leads to a unilateral contract, then unless there was an ancillary contract entered into that guaranteed that the main contract would not be withdrawn, the contract may be revoked at any time. Also, "An offeror may revoke an offer before it has been accepted, but the revocation must be communicated to the offeree, although not necessarily by the offeror: (Dickinson v. Dodds 1876)" but again if they had encapsulated in a option of the contract, revoked the offer would be not possible. In his case the first thing he have to do is to call the offeree and explain him the situation, also (even this would depend of the consciousness of the person and his values and moral) the offeree would notice since he saw the bid something is wrong because when before send him the bid he would know what was the offer made to him "No contract is created if the offer is not accepted. (Cheeseman 2010)" "An offer may be terminated at any time before it is accepted. However, once an offer is accepted it becomes irrevocable. (Goldsbrough Mort & Co Ltd v Quinn)"
If you have a unilateral contract, then you have the right to revoke it. This is fairly basic contract law. For a contract to be binding and irrevocable both parties must understand and sign the contract.
A contract (either written or verbal) has THREE requirements to be valid.1) An offer2) An acceptance of the offer3) A payment, or other thing of value, actually changing hands validating the agreement.
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What legal wieght does a verbal contract carry, specifically in regards to an offer to sell an item?
If a person has accepted a job, but then decided to not work at the business, you can reject then job offer. It is best to contact the hiring manager and explain why you will be rejecting the offer.
Accept is the present tense. Past tense would be accepted. ie. "I accept your offer" vs. "I accepted your offer".
An improvisation term to describe what a performer contributes to the progression of the action.An offer can be verbal or physical
Many of the car companies offer extended warranties for the parts on their products. You could also go to the manufacture of your transmission to see if they offer the service.