i.e. Who can accept?
Step 3 - Has it been communicated?
i.e. When is it effective at law?
Step 4 - Can it be revoked?
i.e. is there a binding option?
Step 5 - Has it been terminated?
- Rejected – Express/Implied
- If so, when is the rejection effective a law?
- Revoked – If so, when is the revocation effective at law?
Lapse – Death/Time/Condition.
If so, when is the termination effective at law?
Step 6 - Has it been accepted?
6.1 Is acceptance made by offeree?
6.2 Is acceptance based on offer?
6.3 Is it unqualified acceptance?
6.4 Does it conform to terms of the offer?
6.5 Does the offeree use an appropriate mode?
6.6 Is acceptance in fact communicated (or posted, if postal rule
applies)?
6.7 If so, when is acceptance effective at law?
SELF ASSESSMENT EXERCISE 4
Which, if any, of the following are offers capable of acceptance?
a. a departmental store leaflet offering pool furniture at a 50%
discount
b. as for (a) above, but also offering “rain checks” for those unable to
be supplied from current stock
c. a display in a store window of a video recorder with N5000 price
tag
d. a passenger who boards a bus
e an announcement inviting contractors to tender for certain work
stating that the lowest tender will be accepted.
f. statement by the Governor, wazobia. State that if re-elected, he will
reduce taxes?