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Sunday 21 March 2010

Revocation of an Offer

Revocation means "Cancellation ". It may be revocation of Offer or Acceptance.
An offer may come to an end by revocation, Lapse or Rejection.
Section 6 deals with various modes of revocation of an offer. In all cases offer comes to an end:

  1. Revocation of offer by communication of notice.
  2. Revocation by Lapse of time.
  3. Revocation by failure to fulfill a condition precedent to acceptance.
  4. Revocation by death or insanity of the offeree.
  5. Revocation by cross offer.
  6. Revocation by failure of accept according to the mode prescribed.

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