Trans-Lex Administrative Information
[click here to copy citation to clipboard]
Please Cite as: "http://www.trans-lex.org/922500".
No. IV.2.4 - Lapse of an offer
(1) An offer lapses when
the party to whom it is made fails to accept it within the time or in the manner prescribed by the offeror, or, if no time or manner is prescribed, within a time or in a manner reasonable under the circumstances,
the offeree communicates his refusal of the offer, or makes a counter-offer,
either party dies or, in case of a corporation, ceases to exist.
(2) An oral offer must be accepted immediately unless the circumstances indicate otherwise.
Please click below for (full) text references[doctrine] [national legislation] [principles / restatements] [model laws]
There are no Threads related to this document. Open one by yourself.
Trans-Lex in Social Media: