How to Revoke Offer



As per the section 6 of Indian Contract Act 1872, you can revoke your offer with following ways.

1. Revocation of Offer by giving Information

Offerer can revoke the offer by giving its information to the party who has accepted it. Information must reach at the party who accept it. If your information could not reach to the party who accept the offer, it is not revocation. For example, you make the video and upload in the youtube. youtube suspend your youtube channel and give its notification to your email. So, youtube is the party who offer you to upload your video and you accept but it has break your contract by suspending your account. It is revocation example.

2. Revocation of Offer by Not Completing it on the Time

If offer is not completed by giving acceptance, then it will be revocation of offer. For example, seller is giving offer of $ 10000 product at 20% discount for 10 days. but you did not accept it. So, you are revoking the offer which was special for you.

3. Revocation of Offer by Not Completing its Conditions

Revocation can be done by not completing its condition. For example, if offer of sale is on the condition of giving 50% advance to seller but buyer did not give advance, it means, buyer did not accept this condition. So, this is revocation of offer.

4. Revocation of Offer Due to Death  or mad of Offer Giver 

If the party who gives the offer suffering from madness or he or she dead, then offer will be revoked automatically.

5. Revocation of Offer by Re-Offer

If offerer re-offers with new conditions, then original offer will be revoked automatically. For example, seller is ready to get 25% advance from buyer instead of getting 50% in previous offer, then previous offer will be revoked automatically due to this.

6. Revocation of Offer by Not Offering with Proper method of Offer

If offer is not given with proper way, it will be revoked. For example, buyer wants written contract for buying same product from vendor but vendor is not signing the contract, it means, oral offer of seller is useless.

Above written note is Demo. If you want to get online Coaching of Business Law, please click here

Vinod Kumar

Educator

Prof. Vinod Kumar is an Indian Educator, Motivational Speaker, Naturopathic Practitioner and Entrepreneur . He is the founder of Svtuition... read more »

0 comments:

Post a Comment