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A firm offer is an offer that will remain open for a certain period or until a certain time or occurrence of a certain event, during which it is incapable of being revoked. [1] As a general rule, all offers are revocable at any time prior to acceptance, even those offers that purport to be irrevocable on their face.
If the offer was made to the entire world, such as in Carlill's case, [11] the revocation must take a form that is similar to the offer. However, an offer may not be revoked if it has been encapsulated in an option (see also option contract), or if it is a "firm offer" in which
An option contract is a type of contract that protects an offeree from an offeror's ability to revoke their offer to engage in a contract. Under the common law, consideration for the option contract is required as it is still a form of contract, cf. Restatement (Second) of Contracts § 87(1).
Under the Civil Code of the People's Republic of China, "the parties may conclude a contract by making an offer and acceptance or through other means". [205] An offer is defined as "an expression of intent to conclude a contract with another person" and is required to "be specific and definite" and to expressly indicate that "the offeror is to ...
In corporate finance, a tender offer is a type of public takeover bid. The tender offer is a public, open offer or invitation (usually announced in a newspaper advertisement) by a prospective acquirer to all stockholders of a publicly traded corporation (the target corporation) to tender their stock for sale at a specified price during a specified time, subject to the tendering of a minimum ...
An offer is usually directed at a definite person or persons, but it may also be directed at undefined persons. An advertisement does not generally constitute an offer; it qualifies merely as an invitation to do business, although a promise of reward is a form of advertisement that does constitute an offer. The status in this regard of ...
Alexia Dellner. My Experience Setting up the Puffy Monarch Mattress. The mattress arrived compressed in a box, which momentarily tricked me into thinking it would be easy to lift.
A requirements contract is a contract in which one party agrees to supply as much of a good or service as is required by the other party, and in exchange the other party expressly or implicitly promises that it will obtain its goods or services exclusively from the first party. [1]