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Payne v Cave (1789) 3 TR 148 is an old English contract law case, which stands for the proposition that an auctioneer's request for bids is not an offer but an invitation to treat. The bidders make the offers which can be accepted by the auctioneer.
Revocation can be made by the offeror only before acceptance is made. Also the revocation must be communicated to the offeree(s).Unless and until the revocation is communicated, it is ineffective. See: Byrne v Van Tienhoven (1880) 5 CPD 344. Hudson ‘Retraction of Letters of Acceptance’ (1966) 82 Law Quarterly Review 169
[6] [7] It is implicit from Payne v Cave (1789), [8] an early case concerning auctions, that each bid is deemed to expire when others make higher bids; but some auctioneers (such as eBay) have lawfully amended this presumption so that, should a higher bidder withdraw his bid, they may accept a lower one. [further explanation needed]
Payne v Cave; S. Sprange v Barnard This page was last edited on 21 April 2020, at 05:14 (UTC). Text is available under the Creative Commons Attribution ...
Payne v Cave; T. T 258/03; Thwaytes v Sotheby's; Tse Kwong Lam v Wong Chit Sen This page was last edited on 3 June 2020, at 22:32 (UTC). Text is available under ...
An Argentinian energy tycoon is among the three men slapped with manslaughter charges related to One Direction star Liam Payne's tragic Oct. 16 death, despite his insistence he did everything he ...
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Payne v Cave; S. Sprange v Barnard This page was last edited on 22 August 2020, at 05:08 (UTC). Text is available under the Creative Commons Attribution-ShareAlike 4. ...