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Offer and acceptance are generally recognized as essential requirements for the formation of a contract ... If an auction is without reserve then, ...
The court held that Mr Cave was entitled to withdraw his offer at any time before the auctioneer accepted it. The auctioneer's request for bids was an invitation to treat, and each bid constituted an offer which could be withdrawn at any time until it's accepted, and finally, the fall of the auctioneer's hammer constituted acceptance of the highest bid.
Harris v Nickerson (1873) LR 8 QB 286 is an English law case concerning the requirements of offer and acceptance in the formation of a contract. [1] The case established that an advertisement that goods will be put up for auction does not constitute an offer to any person that the goods will actually be put up, and that the advertiser is therefore free to withdraw the goods from the auction at ...
Sometimes a person may not offer to sell their goods, but makes some statement or gives some information with a view to inviting others to make offers on the basis. Likewise, inviting persons to an auction, where goods to be auctioned are displayed, is not an offer for the sale of goods. The offer is made by the intending buyers in the form of bid.
Felthouse v Bindley [1862] EWHC CP J35, is the leading English contract law case on the rule that one cannot impose an obligation on another to reject one's offer. This is sometimes misleadingly expressed as a rule that "silence cannot amount to acceptance".
A message posted on the auction website appeared to suggest owner Chris Payne had accepted an offer received prior to the auction. "Auction canceled," the message said . "Pre-auction offer received."
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]
The English common law established the concepts of consensus ad idem, offer, acceptance and counter-offer. The leading case on counter-offer is Hyde v Wrench [1840]. [ 3 ] The phrase "Mirror-Image Rule" is rarely (if at all) used by English lawyers; but the concept remains valid, as in Gibson v Manchester City Council [1979], [ 4 ] and Butler ...