Business Law: Communication and Revocation of Offer & Acceptance

Commercial law, also known as business law, mercantile law or trade law, is the body of law that applies to the rights, relations, and conduct of persons and business engaged in commerce, merchandising, trade, and sales. It is often considered to be a branch of civil law and deals with issues of both private law and public law.

1. Dayalbagh Educational Institute Deemed University, Agra, UP Business Law{ACM102} Seminar & Group Discussion Session 2020-21 Communication and Revocation of Offer & Acceptance Taken By: Prof. P. D. Saini Submitted By: Name: Divyanshi Gupta App. No: 108996 Course: B.A. Soc. Sc. (HSM)

2. Communication of Offer Under Section 4 of the Indian Contract Act, 1872, communication of offer is completed when it comes to the knowledge of the Offeree(Specific offer) and any member of public(General offer).

3. A proposal may be revoked or withdraw any time before the communication of acceptance against proposer is completed. (U/s 5) U/s 6 of the Act, following circumstances an offer comes to an end: Rejection of offer by offeree By Notice Lapse of time [Herd Vs Diggon , 1828] Death and insanity of Offeror Failure of acceptor to fulfill the condition collateral to offer By Counter Offer [Tinn Vs Hoffman, 1873] Destruction of Subject matter Termination of Offer

4. U/s 4 of the Act, in case of communication of acceptance two factors are considered: 1. Mode of acceptance (By the Act or Conduct of the parties) 2. Timing of acceptance As against offeror As against acceptor Communication of Acceptance

5. U/s 5 of the Act, an acceptance can be revoked at any time before the communication of acceptance is completed as against acceptor, but not afterwards. Revocation of Acceptance

6. DR. P.D. Saini , Business Regulatory Framework (Business Law), 3 rd rev. ed., New Delhi, 2014 https://www.toppr.com/guides/business-laws/indian-contract-act-1872-part-i/communication-of-offer-and-acceptance-and-revocation-of-offer/ https://youtu.be/3hBONz5p7Og https://sites.google.com/site/accarevisionnotes/f4-corporate-business-law-eng/chapter-4-formation-of-contracts/termination-of-offer#:~:text=in%20reasonable%20condition.-,Termination%20by%20death,notice%20of%20the%20offeror's%20death References

7. Thank You!!!