The term Offer is also called as Proposal. The first step in the formation of a contract is the making of a proposal. To constitute a contract there must be an offer and acceptance. The person making the proposal is called the “promisor”, and the person accepting the proposal is called “promisee”,  

      An offer may come to an end by revocation or lapse or rejection. Revocation or lapse of offer: Section 6 of the Indian Contract Act 1872 deals with various modes of revocation of the offer.

(1) By the communication of notice of revocation by the proposer to the other party;

(2) By the lapse of the time prescribed in such proposal for its acceptance, or, if no time is so prescribed, by the lapse of a reasonable time, without communication of the acceptance;


(3) By the failure of the acceptor to fulfill a condition precedent to acceptance; or


(4) By the death or insanity of the proposer, if the fact of the death or insanity comes to the knowledge of the acceptor before acceptance.

In addition, an offer is also revoked -

(5) If Counter offer is made to it

(6) If an offer is not accepted according to the prescribed or usual mode.



See also

Undue Influence: Meaning, Definition, and Essentials of Undue Influence

What are the cases in which Injunction can be refused?

What are the Essentials of a Valid Acceptance




0 comments:

Post a comment

See Also..