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"Acceptance is to an offer what a lighted match is to a train of gunpowder". Elucidate this statement. Ganesh posts a letter of offer on 20 October2020. It reaches Ramesh on 25 degrees ^ 3 October2020 Ramesh posts the letter of acceptance on 27 ^ a October and it reaches Ganesh on 30 October 2020. When is communication of a) offer and b) acceptance complete? State the provisions clearly.?
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"Acceptance is to an offer what a lighted match is to a train of gunpo...
Communication of Offer and Acceptance
Introduction:
In contract law, the communication of an offer and acceptance is crucial in determining the formation of a legally binding agreement. The statement "Acceptance is to an offer what a lighted match is to a train of gunpowder" emphasizes the significance of acceptance in completing the contract formation process.
Definition:
The communication of an offer refers to the act of the offeror expressing their willingness to enter into a contract with specific terms and conditions. On the other hand, acceptance is the offeree's unequivocal agreement to the terms of the offer.
Communication of Offer:
The communication of an offer occurs when the offeror transmits the offer to the offeree. In the given scenario, Ganesh posts the letter of offer on 20 October 2020. The offer is considered communicated when it is posted, as the postal rule states that acceptance is valid once the letter is posted. Therefore, the communication of the offer is complete on 20 October 2020.
Communication of Acceptance:
The communication of acceptance takes place when the offeree conveys their unconditional agreement to the terms of the offer. Ramesh receives the offer on 25 October 2020. However, for acceptance to be valid, it must be communicated to the offeror. Ramesh posts the letter of acceptance on 27 October 2020, and it reaches Ganesh on 30 October 2020.
The Provisions:
1. Postal Rule: According to the postal rule, acceptance is effective upon posting, even if it is lost in transit or delayed. This rule applies when the offeror specifies that acceptance can be made by post or when it is implied from the nature of the transaction.
2. Communication of Acceptance: Acceptance must be communicated to the offeror or their authorized representative. In this case, Ramesh's acceptance is complete when the letter is posted on 27 October 2020.
3. Receipt Rule: Under the receipt rule, acceptance is effective when it is received by the offeror. In this scenario, Ganesh receives Ramesh's acceptance on 30 October 2020, making the communication of acceptance complete on this date.
Conclusion:
In summary, the communication of the offer is complete when it is posted, while the communication of acceptance is complete when it is received by the offeror. The postal rule and the receipt rule are important provisions that determine the timing of offer and acceptance communication in contract law.
Introduction:
In contract law, the communication of an offer and acceptance is crucial in determining the formation of a legally binding agreement. The statement "Acceptance is to an offer what a lighted match is to a train of gunpowder" emphasizes the significance of acceptance in completing the contract formation process.
Definition:
The communication of an offer refers to the act of the offeror expressing their willingness to enter into a contract with specific terms and conditions. On the other hand, acceptance is the offeree's unequivocal agreement to the terms of the offer.
Communication of Offer:
The communication of an offer occurs when the offeror transmits the offer to the offeree. In the given scenario, Ganesh posts the letter of offer on 20 October 2020. The offer is considered communicated when it is posted, as the postal rule states that acceptance is valid once the letter is posted. Therefore, the communication of the offer is complete on 20 October 2020.
Communication of Acceptance:
The communication of acceptance takes place when the offeree conveys their unconditional agreement to the terms of the offer. Ramesh receives the offer on 25 October 2020. However, for acceptance to be valid, it must be communicated to the offeror. Ramesh posts the letter of acceptance on 27 October 2020, and it reaches Ganesh on 30 October 2020.
The Provisions:
1. Postal Rule: According to the postal rule, acceptance is effective upon posting, even if it is lost in transit or delayed. This rule applies when the offeror specifies that acceptance can be made by post or when it is implied from the nature of the transaction.
2. Communication of Acceptance: Acceptance must be communicated to the offeror or their authorized representative. In this case, Ramesh's acceptance is complete when the letter is posted on 27 October 2020.
3. Receipt Rule: Under the receipt rule, acceptance is effective when it is received by the offeror. In this scenario, Ganesh receives Ramesh's acceptance on 30 October 2020, making the communication of acceptance complete on this date.
Conclusion:
In summary, the communication of the offer is complete when it is posted, while the communication of acceptance is complete when it is received by the offeror. The postal rule and the receipt rule are important provisions that determine the timing of offer and acceptance communication in contract law.
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"Acceptance is to an offer what a lighted match is to a train of gunpowder". Elucidate this statement. Ganesh posts a letter of offer on 20 October2020. It reaches Ramesh on 25 degrees ^ 3 October2020 Ramesh posts the letter of acceptance on 27 ^ a October and it reaches Ganesh on 30 October 2020. When is communication of a) offer and b) acceptance complete? State the provisions clearly.?
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"Acceptance is to an offer what a lighted match is to a train of gunpowder". Elucidate this statement. Ganesh posts a letter of offer on 20 October2020. It reaches Ramesh on 25 degrees ^ 3 October2020 Ramesh posts the letter of acceptance on 27 ^ a October and it reaches Ganesh on 30 October 2020. When is communication of a) offer and b) acceptance complete? State the provisions clearly.? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about "Acceptance is to an offer what a lighted match is to a train of gunpowder". Elucidate this statement. Ganesh posts a letter of offer on 20 October2020. It reaches Ramesh on 25 degrees ^ 3 October2020 Ramesh posts the letter of acceptance on 27 ^ a October and it reaches Ganesh on 30 October 2020. When is communication of a) offer and b) acceptance complete? State the provisions clearly.? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for "Acceptance is to an offer what a lighted match is to a train of gunpowder". Elucidate this statement. Ganesh posts a letter of offer on 20 October2020. It reaches Ramesh on 25 degrees ^ 3 October2020 Ramesh posts the letter of acceptance on 27 ^ a October and it reaches Ganesh on 30 October 2020. When is communication of a) offer and b) acceptance complete? State the provisions clearly.?.
"Acceptance is to an offer what a lighted match is to a train of gunpowder". Elucidate this statement. Ganesh posts a letter of offer on 20 October2020. It reaches Ramesh on 25 degrees ^ 3 October2020 Ramesh posts the letter of acceptance on 27 ^ a October and it reaches Ganesh on 30 October 2020. When is communication of a) offer and b) acceptance complete? State the provisions clearly.? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about "Acceptance is to an offer what a lighted match is to a train of gunpowder". Elucidate this statement. Ganesh posts a letter of offer on 20 October2020. It reaches Ramesh on 25 degrees ^ 3 October2020 Ramesh posts the letter of acceptance on 27 ^ a October and it reaches Ganesh on 30 October 2020. When is communication of a) offer and b) acceptance complete? State the provisions clearly.? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for "Acceptance is to an offer what a lighted match is to a train of gunpowder". Elucidate this statement. Ganesh posts a letter of offer on 20 October2020. It reaches Ramesh on 25 degrees ^ 3 October2020 Ramesh posts the letter of acceptance on 27 ^ a October and it reaches Ganesh on 30 October 2020. When is communication of a) offer and b) acceptance complete? State the provisions clearly.?.
Solutions for "Acceptance is to an offer what a lighted match is to a train of gunpowder". Elucidate this statement. Ganesh posts a letter of offer on 20 October2020. It reaches Ramesh on 25 degrees ^ 3 October2020 Ramesh posts the letter of acceptance on 27 ^ a October and it reaches Ganesh on 30 October 2020. When is communication of a) offer and b) acceptance complete? State the provisions clearly.? in English & in Hindi are available as part of our courses for B Com.
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