Acceptance, Consideration - ACCA Corporate and Business Law (LW) (ENG)
14 Comments
N
Nipun·
Thank you for the lecture @Mike
I have a question please - how do you revoke an offer made to the world at large? And what if a person accepts the offer by an act of acceptance without knowing the offer has been revoked?
Many thanks
M
MikeLittleTutor·
This should really be in the 'Ask ACCA Tutor' forum!
It's a good question, and one that I've never been asked before. If you can accept that the expression 'the world at large' practically speaking refers to those that are likely to hear it / read it, and not therefore to some Aboriginal tribe people in Australia's outback (for example) then I imagine revocation would be by 'taking sufficient steps to acquaint the world of that revocation'
As a start point, I imagine an advert in some newspaper that circulates in the vicinity of the location where the offer was made
In the case of the harbour swimming life-saver, I imagine effective revocation would be something like @I'll give £10 to the first person to swim across the harbour' followed 10 seconds later by 'No, I won't. Only kidding'
Then, when the child falls in and our hero plunges into the water, I believe that the revocation was done before the acts of acceptance had started and would thus be effective
If you were an American ex-president, you might possibly claim to have already thought about the offer before the revocation and that the mere thinking about it would constitute sufficient (in)action to be termed as acceptance. Maybe. Pass me the bleach, please!
OK?
M
MikeLittleTutor·
You may realise from the above that, with 3 'I imagine's and 1 'I believe', my post is by no means definitive, but I think (there I go again!) I'm likely close to the mark
OK?
N
Nipun·
Thank you for your response. 'taking sufficient steps to acquaint the world of that revocation’ makes sense to me. However, it would be interesting to see a case where revocation genuinely didn't reach the person who accepted the offer, but the offeror did take reasonable steps to revoke the offer to the world at large, i.e. a case where both parties are reasonably right. Sorry if I am thinking too much :) - sorry for not asking my question in the right forum - will remember for next time :)
M
MikeLittleTutor·
I imagine that, having taken all reasonable steps, the Courts will accept that every effort has been made and thus the offer has been effectively revoked
You're most unlikely ever to come across the situation that you propose
OK
(You've again posted in the wrong forum!)
H
Hamza·
Mike’s sister must be devastated after hearing 31:30 when her contract p’s been given and the killer didn’t even get paid ?
H
Hamza·
I meant to laugh at the end instead of the question mark hahaha
M
MikeLittleTutor·
I'll tell you something Hamza, she certainly was not pleased. She was devastated that I thought she was only worth £900 even though I raised it to £1,000
But she lives on and won't let me forget my actions. But, additionally, she's very careful when strangers are around :-)
H
Hamza·
Hahaha well I wont be forgetting this on the exam for sure thanks for your efforts and everything Mike. Really appreciate everything you’ve put up on the portal. Wish you all the best and prayers goes out to you specifically. Thanks.
H
Hermela·
I didnot get the example of the past consideration .. can you explain for me
i dont understand lampleigh v braithwait
H
hina·
'Once you have started the act of acceptance the offeror cannot revoke the offer', in the example scenario set by an examiner, the person who jumped into the harbour jumped to save the child (from what I've understood) so the intent is not acceptance of that offer is it? and if the intent is not to accept that offer then can the reward be claimed still? Will it still be a contract?
Thanks
B
Barb·
Yes and yes. As Mike says 'motivation for the accepting act is irrelevant'
A
Asif·
Hello sir,
Isn’t Acceptance by way of Conduct, and the next point “If you’ve started the acts of acceptance the offerer cannot revoke the offer” , the same thing ?
Acceptance by conduct and starting the acts of acceptance.
I have a question please - how do you revoke an offer made to the world at large? And what if a person accepts the offer by an act of acceptance without knowing the offer has been revoked?
Many thanks
It's a good question, and one that I've never been asked before. If you can accept that the expression 'the world at large' practically speaking refers to those that are likely to hear it / read it, and not therefore to some Aboriginal tribe people in Australia's outback (for example) then I imagine revocation would be by 'taking sufficient steps to acquaint the world of that revocation'
As a start point, I imagine an advert in some newspaper that circulates in the vicinity of the location where the offer was made
In the case of the harbour swimming life-saver, I imagine effective revocation would be something like @I'll give £10 to the first person to swim across the harbour' followed 10 seconds later by 'No, I won't. Only kidding'
Then, when the child falls in and our hero plunges into the water, I believe that the revocation was done before the acts of acceptance had started and would thus be effective
If you were an American ex-president, you might possibly claim to have already thought about the offer before the revocation and that the mere thinking about it would constitute sufficient (in)action to be termed as acceptance. Maybe. Pass me the bleach, please!
OK?
OK?
You're most unlikely ever to come across the situation that you propose
OK
(You've again posted in the wrong forum!)
But she lives on and won't let me forget my actions. But, additionally, she's very careful when strangers are around :-)
i dont understand lampleigh v braithwait
Thanks
Isn’t Acceptance by way of Conduct, and the next point “If you’ve started the acts of acceptance the offerer cannot revoke the offer” , the same thing ?
Acceptance by conduct and starting the acts of acceptance.