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An offer lapses and stands revoked under several circumstances: if the specified time for acceptance expires, if the offeree rejects the offer, or if the offeror dies or becomes legally incapacitated before acceptance. Additionally, an offer may lapse if there is a change in circumstances that makes the offer impossible to fulfill. Lastly, if the offer is made based on a specific condition that is not met, it can also lapse.
What else can I help you with?
What is the effect of a counter offer on the original offer?
the original offer is revoked by counter offer
When a offer lapse?
By efflux of time :When an offer is not accepted within the prescribed time (or within a reasonable time if there is no prescribed time) it lapses. For e.g. a Company offers to sell Televisions worth Rs.15,000/- for Rs.10,000/- during the month of December. The offer lapses at the end of December.
If a verbal offer has been extended and accepted can it be revoked?
An offer that has been accepted becomes an agreement between both the parties and hence cannot be revoked unless it is in writing
Which newspaper reported that Cowell revoked an offer to JLS were to be signed to Epic Records?
The Sun
What types of exhibition stands does Nimlok offer?
The type of exhibition stands that Nimlok offer include custom design stands, pop up display stands, portable stands, and fabric backdrops for stands.
What criteria determine the validity of an offer?
The validity of an offer is determined by certain criteria, such as the intention to create a legal relationship, clear and definite terms, communication of the offer to the offeree, and the offer not being revoked or expired.
What does GIO stands for?
Guarantee Issue Offer
The requirements for a valid offer in the UCC?
Under the Uniform Commercial Code (UCC), a valid offer must indicate a willingness to enter into a contract and include essential terms, such as the quantity of goods. While the UCC allows for some flexibility in terms, especially regarding open terms, it requires that the offer be sufficiently definite to allow for a reasonable basis for determining breach or performance. Additionally, the offer must be communicated to the offeree and can be revoked before acceptance, unless it is irrevocable under specific circumstances.
What is the principle behind the duration of an offer?
An offer is only open for a "reasonable" amount of time. What is reasonable is a question of fact for the fact finder in a trial (either the judge or jury). An offer can also be revoked at any time prior to acceptance or the beginning of performance.
What do they serve at consession stands?
Tennis consession stands offer a variety of things. Some of my favorites are, popcorn, and some chips.
Can you revoke an offer?
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When can an offer to form a unilateral contract be revoked?
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.
