When is communication of proposal,acceptance and revocation complete? ...
Communication of Proposal, Acceptance, and Revocation
Communication of Proposal
The communication of a proposal refers to the transmission of an offer from one party (the offeror) to another party (the offeree). It is essential for a proposal to be communicated effectively for it to be valid. Communication can be done through various means such as in person, through mail, email, or any other method agreed upon by both parties.
Communication of Acceptance
The communication of acceptance is the conveyance of the offeree's agreement to the terms of the proposal. It is crucial for the offeree to communicate their acceptance explicitly and in the manner prescribed by the offeror. The acceptance must be communicated within a reasonable time frame and in the same mode as proposed in the offer.
Communication of Revocation
The communication of revocation refers to the withdrawal of an offer by the offeror before it is accepted by the offeree. The revocation must be communicated to the offeree before they communicate their acceptance. It is important for the revocation to be effectively communicated to ensure that the offeree is aware that the offer is no longer valid.
Circumstances of Lapse and Invalidity
An offer can lapse and become invalid under various circumstances. These include:
1. Revocation: If the offeror revokes the offer before the offeree communicates their acceptance, the offer lapses and becomes invalid. The revocation must be effectively communicated to the offeree.
2. Rejection: If the offeree rejects the offer, either explicitly or implicitly, the offer lapses and becomes invalid. The rejection must be communicated to the offeror.
3. Counter-offer: If the offeree proposes new terms or conditions as a counter-offer, it amounts to a rejection of the original offer. The counter-offer terminates the original offer and creates a new offer.
4. Expiration of Time: If the offer specifies a time limit for acceptance, the offer lapses and becomes invalid if the offeree fails to communicate their acceptance within the specified time frame.
5. Death or Insanity: If either the offeror or the offeree dies or becomes legally insane before the acceptance is communicated, the offer lapses and becomes invalid.
6. Illegality: If the subject matter of the offer becomes illegal or against public policy after the offer is made but before acceptance, the offer lapses and becomes invalid.
In conclusion, the communication of a proposal, acceptance, and revocation is essential for the validity of an offer. The offer can lapse and become invalid under various circumstances such as revocation, rejection, counter-offer, expiration of time, death or insanity, and illegality. It is crucial for the parties involved to communicate effectively to ensure the validity of the offer.