In an auction sale, X is the highest bidder. The auctioneer accepts th...
An implied acceptance is one which is made otherwise than in words. In other words, it is inferred from the conduct of the person or the circumstances of the particular case. Hence in this case in an auction sale 'X' is the highest bidder.The auctioneer accepts the offer by not speaking but striking the hammer on the table. This amounts to imputed acceptance.
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In an auction sale, X is the highest bidder. The auctioneer accepts th...
Implied offer is one in which parties to contract do not clearly speak to each other but duty is formed by circumstances e.g;- here striking the hammer on the table by auctioneer shows that he is ready to accept his offer. that is why it is called implied offer.
In an auction sale, X is the highest bidder. The auctioneer accepts th...
Explanation:
In an auction sale, the highest bidder makes an offer by placing a bid. The auctioneer's role is to accept the offer and complete the sale. However, the auctioneer does not verbally accept the offer but instead strikes the hammer on the table. This action is considered as implied acceptance, which is the correct answer.
Here's a detailed explanation:
Express Acceptance:
Express acceptance refers to the act of explicitly and clearly accepting an offer. It involves using words or other forms of communication to indicate acceptance. In the given scenario, the auctioneer does not use any verbal or written communication to accept the highest bidder's offer. Therefore, express acceptance does not apply in this case.
Implied Acceptance:
Implied acceptance is acceptance that is inferred from the conduct or actions of the party to whom the offer is made. In the context of an auction sale, the auctioneer's action of striking the hammer on the table is widely recognized as a symbol of accepting the highest bid. It is a customary practice in auctions, and participants understand that the auctioneer's action signifies the acceptance of the offer. Hence, the correct answer is implied acceptance.
Future Acceptance:
Future acceptance refers to a situation where an offer is made with the understanding that the acceptance will take place at a later date or after certain conditions are met. In an auction sale, the acceptance of the highest bid is immediate and does not involve any future acceptance.
No Acceptance:
No acceptance would imply that the auctioneer did not accept the highest bidder's offer at all. However, in an auction sale, the auctioneer's action of striking the hammer on the table is universally recognized as acceptance. Therefore, the option of no acceptance is incorrect in this scenario.
To summarize, in an auction sale, the auctioneer's action of striking the hammer on the table is considered as implied acceptance. This action is a widely recognized symbol of accepting the highest bidder's offer.
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