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The "mirror image rule" states that if you are to accept an offer, you must accept an offer exactly, without modifications; if you change the offer in any way, this is a counter-offer that kills the original offer and the original offer cannot be accepted at a future time. [41]
It can be argued as a defense, and if raised successfully, can lead to the agreement in question being found void ab initio or voidable, or alternatively, an equitable remedy may be provided by the courts. Common law has identified three different types of mistake in contract: the 'unilateral mistake', the 'mutual mistake', and the 'common ...
If you do need to back out of an accepted offer, be honest with the seller as soon as you’ve made your decision. Work closely with your agent and attorney, who can help you communicate (in ...
It allows removal of state criminal cases where the defendant is a federal officer who alleges that the act was committed in carrying out his federal duties. Under this, a number of state criminal cases have been removed to federal court and there summarily dismissed, thus preventing trial on the merits of whether the officer or agent was in ...
How can you tell if you should take a chance on a company? Google is your friend. Sometimes, finding the down-low about an organization is as easy as a simple Google search.
The seller can then activate the escape clause by notifying the original buyer about the back-up offer. The first buyer now has a specified period of time to fulfil all the buyer contingencies in the contract of sale, or cancel the contract and lose the property. If the buyer cannot fulfil the contingencies in time, the original contract will ...
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As an offer states the offeror's willingness to be bound to the terms proposed therein, [27] a purported acceptance that varies the terms of an offer is not an acceptance but a counteroffer and hence a rejection of the original offer. The principle of offer and acceptance has been codified under the Indian Contract Act, 1872. [28]