Revocation of Offer and Acceptance
Revocation of Offer and Acceptance
Revocation of Offer and Acceptance
REVOCATION OF OFFER
Definition :
In some situations , eventhough the offeror has already made an offer to the offeree ,
he may changes his mind and decides to withdraw the offer .
Section 5(1) provides that "A proposal may be revoked at any time before the
communication of its acceptance is complete as against the proposer , but not
afterwards .
Therefore once an acceptance has been made , the offeror is no longer entitled to
revoke his offer .
Revocation can be made by any of the modes provided under section 6 (a) , (b) , (c) and
(d) .
When the acceptance has not been made within the time prescribed by
the offeror .
REVOCATION OF ACCEPTANCE
Definition :
The rule as to when the offeree can revoke his acceptance is provided under Section
5(2) :
"An acceptance may be revoked at any time before the communication of the
acceptance is complete against the acceptor , but not afterwards "
The offeree could revoke his acceptance at any time before or at the moment the
letter of acceptance reaches the offeror .