Explain briefly the law relating to communication of offer, acceptance and revocation. Is there limit of time after which an offer cannot be revoked?

Law Relating to Communication of Offer, Acceptance, and Revocation

In contract law, the communication of offer, acceptance, and revocation are crucial elements in the formation and validity of a contract. Let's explore these concepts in detail:

1. Offer:

An offer is a proposal made by one party (the offeror) to another party (the offeree) indicating a willingness to enter into a contract under certain terms. The offer must be communicated to the offeree and must be clear, definite, and intended to create legal relations. An offer can be made verbally, in writing, or by conduct.

Communication of Offer:

• An offer must be communicated to the offeree or their agent.
• Communication can be direct (such as in a face-to-face conversation) or indirect (such as by mail or email).

2. Acceptance:

Acceptance is the unconditional agreement by the offeree to the terms of the offer. Acceptance creates a binding contract between the parties. Like the offer, acceptance must be communicated to the offeror and must be in accordance with the terms of the offer.

Communication of Acceptance:

• Acceptance must be communicated to the offeror or their agent.
• The method of communication must be in accordance with the terms of the offer or, if no method is specified, by a method that is reasonable under the circumstances.

3. Revocation:

Revocation is the withdrawal of an offer by the offeror before it is accepted by the offeree. An offer can be revoked at any time before acceptance, but the revocation must be communicated to the offeree.

Communication of Revocation:

• Revocation must be communicated to the offeree before they accept the offer.
• If the offer was made to the public or a specific group of people, revocation must be communicated in the same manner as the offer (e.g., through a newspaper advertisement).

Time Limit for Revocation:

Generally, an offer can be revoked at any time before acceptance, unless the offeror has made a promise not to revoke the offer for a specified period. Once the specified period has elapsed, the offer cannot be revoked, and the offeree may accept it within a reasonable time.

Conclusion:

In conclusion, the law relating to the communication of offer, acceptance, and revocation is essential in determining the validity and enforceability of a contract. Offer and acceptance must be communicated between the parties, while revocation is effective upon communication to the offeree. It is important for parties to understand these principles to ensure that their contracts are legally binding and enforceable.