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Contract Question Query

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA LW Exams › Contract Question Query

  • This topic has 1 reply, 2 voices, and was last updated 4 years ago by Vijay.
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  • March 9, 2021 at 11:49 am #614035
    adold
    Participant
    • Topics: 1
    • Replies: 0
    • ☆

    Hi,

    I have recently seen a question that I would like to get clarification on if you wouldn’t mind. The question was along the lines of:

    “Mary offered John to sell her car for £10,000, payable immediately. John accepted the offer but said he would pay the total amount in two instalments for £5,000”

    Would this be a valid contract as Mary will be receiving £10,000 or would the contract be contract be invalid as a result of John in a sense is making a counter offer by not paying the amount of £10,000 immediately?

    March 20, 2021 at 9:13 pm #614847
    Vijay
    Member
    • Topics: 0
    • Replies: 258
    • ☆☆☆

    Hi Adold,

    So John has not accepted the offer as paying in 2 instalments is a counter offer. Counter offers are not acceptance! Instead a counter offer brings the original offer to an end. In short there is no contract as there has not been an acceptance.

    I hope this clarifies?

    Kind regards,

    Vijay

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