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The court held that a contract was complete when the secretary posted the letter accepting the application for shares. Mellish LJ ascribed the postal rule to the extraordinary and mischievous consequences which would follow if it were held that an offer might be revoked at any time until the letter accepting it had been actually received.
Day 2: A decides to revoke the offer and puts a letter in the mail to B revoking the offer. Day 3: B puts a letter accepting the offer in the mail. Day 4: B receives A's revocation letter. The letter of revocation can be effective only when received, that is Day 4. However, a contract was formed on Day 3 when the letter of acceptance was posted.
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Treitel defines an offer as "an expression of willingness to contract on certain terms, made with the intention that it shall become binding as soon as it is accepted by the person to whom it is addressed", the "offeree". [1] An offer is a statement of the terms on which the offeror is willing to be bound.
Genie Energy Ltd. Announces Extension of Exchange Offer NEWARK, N.J.--(BUSINESS WIRE)-- Genie Energy Ltd., (NYSE: GNE, GNEPRA) announced that the expiration date for its pending exchange offer of ...
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The Condor Ferries chief is "disappointed" with Jersey's government requesting a contract extension.
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