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Where a seller makes a qualified acceptance, Scots law treats this as new offer, an offer to sell, which the Buyer must then accept de plano or issue a new offer to buy with further or amended conditions; the offer to buy is effectively 'destroyed' by the qualified acceptance or offer to sell and cannot be relied upon by the Seller. [19]
A Contract is formed by the acceptance of an offer; an offer can be constituted by responding to an invitation to treat. Variation of the original offer counts as counter-offer. A leading piece of legislation in Scots contract law is the Contract (Scotland) Act 1997. This act includes damages for breach of contract of sale.
In exceptional circumstances, an invitation for tenders may be an offer, as in Harvela Investments v Royal Trust of Canada [1986], [5] where the court held that because defendants had made clear an intention to accept the highest tender, then the invitation to tender was an offer accepted by the person making the highest tender.
Here’s everything you need to know about making a cash offer on a house. ... But a seller may be more inclined to accept a lower offer if it is all-cash. On the other hand, if it’s a hot ...
Common reasons why buyers might back out of a deal: Their financing fell through. They unexpectedly lost their job. The appraisal came in too low. A major problem was found in the inspection
GMB Scotland said 78% of members voted to accept the offer from Cosla, which will see a minimum increase of 3.6% for staff. Trade union in Scotland suspends bin strikes after members accept pay ...
The Scottish Government Land Reform Review Group's The land of Scotland and the common good: report (2004) succinctly summarises common good property: "Section 14: Common Good Lands. A special type of property owned by local authorities in Scotland, which is legally distinct from all the other property which they own, is Common Good Funds ...
When making an offer on a house, buyers typically submit what’s called an earnest money deposit as a show of good faith. This deposit, usually ranging from 1% to 3% of the purchase price, is ...