5241008
Description
Flashcards by Chantal Briancon, updated more than 1 year ago
|
Created by Chantal Briancon
over 8 years ago
|
|
| Question | Answer |
| What is a termination? | An offer may be terminated any time before the acceptance by the offeree has taken place. |
| What ways can an offer be terminated? | An offer can be terminated if there is a death in either party, there is a revocation of the offer, there is a failure of a condition, there is a lapse of time or there is a counter offer made by the offeree. |
| How does a counter offer cause revocation? | A counter offer has the effect of destroying the original offer made by the offeror. Once the offeree makes a counter offer, they are unable to accept the original offer that was made by the offeror. |
| HYDE V WRENCH | Example of how a counter offer destroys the original offer made by the offeror. |
| What is revocation? | Revocation is where the offeror revokes the offer that they have made. Once an offer has been revoked, it can no longer be accepted. |
| DICKINSON V DODDS | This case established that revocation can take place anytime before the offer is accepted UNLESS a deposit has been paid. |
| ERRINGTON V ERRINGTON WOODS | An offer cannot be revoked when the performance of the offer has already begun. |
| DAHILA V FOUR MILBANK NOMINEES | In terms of unilateral offers, the offer cannot be revoked when the performance of the offer has already taken place. |
| BYRNE V VAN TIENHOVEN | The revocation must be communicated to the offeree. In terms of unilateral offers, the offeror must take steps to notify the public of the revocation. |
| How does a deceased party cause revocation? | Where either party within the contract dies, this has the effect of destroying the offer that was made. |
| BRADBURY V MORGAN | Where the other party does not know that the other party has died, the offer may still be valid if a personal representative of the deceased party is willing to carry out the contract. |
| What is a failure of a condition? | An offer may be revoked because there is a failure of a condition. For example, the offere may state that he is only going to sell the goods if a certain situation arises. Of course, if this situation does not arise, the offer will be revoked. |
| STIMSON V FINANCINGS LTD | An example of a revocation through a failure of a condition. |
| How will a lapse of time cause revocation? | Where there is a lapse of time, this will cause the offer to be revoked. Where there is no specific time period set by the offeror, a reasonable amount of time will lead to the offer being revoked. What amounts to a reasonable lapse of time will be for the court/jury to decide. |
| DICKINSON V DODDS | The offeror gave the offeree a time period of 3 days. After he did not meet this time limit, the offer was revoked. |
| RAMSGATE VICTORIA HOTEL V MONTEFOIRE | A period of 6 months was regarded as being a reasonable lapse of time by the courts. |
Want to create your own Flashcards for free with GoConqr? Learn more.