Question

List and discuss the elements of a valid offer under the common law. Are there any circumstances under which an offer may be deemed to be irrevovable? How can an offer be terminated?

Answer 1

Please find below answer:

Elements of a valid offer under the common law are as follows:

1.Offer must be communicated.

2.Must create a legal relationship.

3.It must be definite, unambiguous and certain in nature.

4.It must distinguish form invitation to offer.

5. It may be general or specific in nature.

6.Offer us be with a view to obtain the assent.

Circumstances under which an offer may be deemed to be irrevocable:

1. An offer is irrevocable if made by a merchant in writing and assuring that it would be held open. If no time is stated then the offer would be deemed to be irrevocable for a reasonable time, but shall not be exceed three months.

An offer can be terminated as per below:

1.Revocation before acceptance.

2.Rejection

3. Lapse of time.

4. Conditional offer

5. Operation of law.

6. Death

7. Acceptance and illegality