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Non-fulfillment by an offeree of a condition precedent to acceptance leads to _________:
- a)Completion
- b)Communication
- c)Lapse
- d)Execution
Correct answer is option 'C'. Can you explain this answer?
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Non-fulfillment by an offeree of a condition precedent to acceptance l...
If an offer contains a condition that offeree has to perform that condition as a token of acceptance and the offeree fails to fulfill the condition then, it amounts to non- acceptance on the part of offeree. In such a case, offer is said to have been lapsed.
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Non-fulfillment by an offeree of a condition precedent to acceptance l...
Non-Fulfillment of Condition Precedent to Acceptance
When an offer is made, the offeree has the option to accept or reject the offer. However, if the offeree wants to accept the offer subject to a condition, the acceptance is said to be conditional. In such a case, the acceptance is not complete until the condition is fulfilled. This is known as a condition precedent to acceptance.
Lapse of Offer
If the offeree fails to fulfill the condition precedent to acceptance, the offer lapses. This means that the offer is no longer open for acceptance. The lapse of an offer can occur in the following situations:
1. Time limit: If the offer specifies a time limit for acceptance and the offeree fails to accept within that time, the offer lapses.
2. Revocation: If the offeror revokes the offer before the offeree accepts it, the offer lapses.
3. Rejection: If the offeree rejects the offer, the offer lapses.
4. Non-fulfillment of condition precedent: If the offeree makes a conditional acceptance but fails to fulfill the condition precedent to acceptance, the offer lapses.
Conclusion
In conclusion, non-fulfillment by an offeree of a condition precedent to acceptance leads to the lapse of the offer. This means that the offer is no longer open for acceptance. It is important to note that the lapse of an offer does not create any legal obligations between the parties.
When an offer is made, the offeree has the option to accept or reject the offer. However, if the offeree wants to accept the offer subject to a condition, the acceptance is said to be conditional. In such a case, the acceptance is not complete until the condition is fulfilled. This is known as a condition precedent to acceptance.
Lapse of Offer
If the offeree fails to fulfill the condition precedent to acceptance, the offer lapses. This means that the offer is no longer open for acceptance. The lapse of an offer can occur in the following situations:
1. Time limit: If the offer specifies a time limit for acceptance and the offeree fails to accept within that time, the offer lapses.
2. Revocation: If the offeror revokes the offer before the offeree accepts it, the offer lapses.
3. Rejection: If the offeree rejects the offer, the offer lapses.
4. Non-fulfillment of condition precedent: If the offeree makes a conditional acceptance but fails to fulfill the condition precedent to acceptance, the offer lapses.
Conclusion
In conclusion, non-fulfillment by an offeree of a condition precedent to acceptance leads to the lapse of the offer. This means that the offer is no longer open for acceptance. It is important to note that the lapse of an offer does not create any legal obligations between the parties.
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Non-fulfillment by an offeree of a condition precedent to acceptance leads to _________:a)Completionb)Communicationc)Lapsed)ExecutionCorrect answer is option 'C'. Can you explain this answer?
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