Search results
Results from the WOW.Com Content Network
As Megaw J. said in Trollope & Colls Ltd. v. Atomic Power Constructions Ltd. [1963] 1 W.L.R. 333, 337: "… the counter-offer kills the original offer." The letter of the sellers of June 5, 1969, was an acceptance of that counter-offer, as is shown by the acknowledgment which the sellers signed and returned to the buyers.
The auction was first described academically by Columbia University professor William Vickrey in 1961 [1] though it had been used by stamp collectors since 1893. [2] In 1797 Johann Wolfgang von Goethe sold a manuscript using a sealed-bid, second-price auction.
A counter offer is an offer which concerns the same subject matter but with different terms than the original offer. If a counter-offer is made by the offeree to the offeror, then the original offer is deemed rejected, and the power of acceptance included in the original offer is terminated. [32]
Once in a while, when a job seeker submits their resignation and offers a two-week's notice, they get a surprise in return: a counter-offer. Quite frequently this includes a match on salary with ...
In a traditional auction, the seller offers an item for sale. Potential buyers are then free to bid on the item until the time period expires. The buyer with the highest offer wins the right to purchase the item for the price determined at the end of the auction. A reverse auction is different in that a single buyer offers a contract out for ...
Typically, when the seller accepts the buying party’s signed offer or counteroffer and communicates that acceptance to the buyer, a binding agreement has been reached — in theory.
Proxy bidding is an implementation of an English second-price auction used on eBay, in which the winning bidder pays the price of the second-highest bid plus a defined increment. It differs from a Vickrey auction in that bids are not sealed ; the "current highest bid" (defined as second-highest bid plus bid increment) is always displayed.
On 6 June 1840 Wrench wrote to Hyde's agent offering to sell the farm for £1000, stating that it was the final offer and that he would not alter from it. [1] Hyde offered £950 in his letter by 8 June, and after examining the offer Wrench refused to accept, and informed Hyde of this on 27 June. [ 2 ]