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    Revocation of Contract

    Uploaded by

    Davinder
    An offer can be revoked by the offeror at any time before acceptance. Revocation takes effect as soon as the offeree is notified. An offer may also come to an end through lapse of time if no time limit was specified, failure of a condition precedent, death or insanity of the offeror, or conviction of either party of certain crimes. Specifically, an offer lapses if not accepted within a reasonable time if no time limit was set, or it will lapse upon failure to meet a stated condition or the death/insanity of the offeror before acceptance if the offeree is aware.

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    Revocation of Contract

    Uploaded by

    Davinder
    106 views1 page
    An offer can be revoked by the offeror at any time before acceptance. Revocation takes effect as soon as the offeree is notified. An offer may also come to an end through lapse of time if no time limit was specified, failure of a condition precedent, death or insanity of the offeror, or conviction of either party of certain crimes. Specifically, an offer lapses if not accepted within a reasonable time if no time limit was set, or it will lapse upon failure to meet a stated condition or the death/insanity of the offeror before acceptance if the offeree is aware.

    Original Title

    3. REVOCATION OF CONTRACT

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    An offer can be revoked by the offeror at any time before acceptance. Revocation takes effect as soon as the offeree is notified. An offer may also come to an end through lapse of time if no time limit was specified, failure of a condition precedent, death or insanity of the offeror, or conviction of either party of certain crimes. Specifically, an offer lapses if not accepted within a reasonable time if no time limit was set, or it will lapse upon failure to meet a stated condition or the death/insanity of the offeror before acceptance if the offeree is aware.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    106 views1 page

    Revocation of Contract

    Uploaded by

    Davinder
    An offer can be revoked by the offeror at any time before acceptance. Revocation takes effect as soon as the offeree is notified. An offer may also come to an end through lapse of time if no time limit was specified, failure of a condition precedent, death or insanity of the offeror, or conviction of either party of certain crimes. Specifically, an offer lapses if not accepted within a reasonable time if no time limit was set, or it will lapse upon failure to meet a stated condition or the death/insanity of the offeror before acceptance if the offeree is aware.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    REVOCATION OF CONTRACT

    Revocation of contract is the withdrawal of an offer by the promisor so that it can no longer be
    accepted. Revocation takes effect as soon as it is known to the promisee. An contract may revoke an offer
    before it has been accepted, but the revocation must be communicated to the offeree.

    An contract may come to an end in any of the following ways stated in Section 6 of the Indian Contract
    Act:

    1. By communication of notice of revocation:


     An offer may come to an end by communication of notice of revocation by the offeror.
     It may be noted that an offer can be revoked only before its acceptance is complete for the offeror.
     In other words, an offeror can revoke his offer at any time before he becomes before bound by it.
     Thus, the communication of revocation of offer should reach the offeree before the acceptance is
    communicated.

    2. By lapse of time:
     Where time is fixed for the acceptance of the offer, and it is not acceptance within the fixed time,
    the offer comes to an end automatically on the expiry of fixed time.
     Where no time for acceptance is prescribed, the offer has to be accepted within reasonable time.
    The offer lapses if it is not accepted within that time.
     The term ‘reasonable time’ will depend upon the facts and circumstances of each case.

    3. By failure to accept condition precedent:


    Where, the offer requires that some condition must, be fulfilled before the acceptance of the offer, the
    offer lapses, if it is accepted without fulfilling the condition.

    4. By the death or insanity of the offeror:


     Where, the offeror dies or becomes, insane, the offer comes to an end if the fact of his death or
    insanity comes to the knowledge of the acceptor before he makes his acceptance.
     But if the offer is accepted in ignorance of the fact of death or insanity of the offeror, the
    acceptance is valid.
     This will result in a valid contract, and legal representatives of the deceased offeror shall be
    bound by the contract. On the death of offeree before acceptance, the offer also comes to an end by
    operation of law.

    5. By Conviction of either of the party:


    Where either of the party is accused in legal crimes and id he is convicted for the same crime than he
    cannot be part of any an agreement.

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