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Tender – contract law

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA LW Exams › Tender – contract law

  • This topic has 1 reply, 2 voices, and was last updated 8 years ago by MikeLittle.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • June 4, 2017 at 3:18 pm #390206
    annemiquel2
    Member
    • Topics: 14
    • Replies: 5
    • ☆

    Dear Sir,
    First of all, as all of us here, thank you immensely for the help. I am self-sudying and working full time, I wouldn’t have been able to get trough the syllabus without your lectures!

    While doing a mock exam I encountered questions regarding tenders in contract law.
    I haven’t found anything in my course book nor in the OpenTuition notes on this topic.

    Could you please explain, in terms of contract law, what does a tender offer represent and what is the acceptance?
    My thoughts are the following:
    – Request for tender = invitation to treat
    – Submission of tender = offer
    – Acceptance of tender = acceptance
    – If negotiation on price of tender = counter-offer
    As a consequence, when submitting the tender, only the party submitting the tender is bound by the terms (it’s an offer – not a contract yet).
    Could you please let me know if my reasoning is correct?

    Thank you very much,
    Anne

    June 4, 2017 at 3:29 pm #390212
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23334
    • ☆☆☆☆☆

    That sounds perfect Anne

    I’ve just looked again at the course notes and I can’t see tenders mentioned anywhere

    I believe that I must have mentioned them in the lectures … hopefully!

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    Posts
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  • The topic ‘Tender – contract law’ is closed to new replies.

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