(2) Revocation of acceptance must occur within a reasonable time after the buyer discovers or should have discovered the ground for it and before any substantial change in condition of the goods which is not caused by their own defects. It is not effective until the buyer notifies the seller of it.
What is the time limit to revoke the acceptance?
Time Limit: S can revoke his acceptance anytime between 5 th of January 12 PM to 7 th Of January 2015.
What is the process of revocation of acceptance?
The Revocation of Acceptance is complete ONLY at any time before the communication of acceptance is complete as against the acceptor, but not afterwards. Revocation of Acceptance too can be either oral or written. Acceptance has to be revoked mandatorily before the same reaches the Offerer.
When does a revocation of acceptance of sale take place?
(2) Revocation of acceptance must occur within a reasonable time after the buyer discovers or should have discovered the ground for it and before any substantial change in condition of the goods which is not caused by their own defects. It is not effective until the buyer notifies the seller of it.
Can the latter of acceptance of an offer be revoked?
In England, once latter of acceptance is posted, it binds both the parties and there appears to be no scope of revocation of acceptance by sending a telegram or through a phone call. 1) What is an offer ? What are the essential requisites of a Valid offer ?
What is the time for revocation of offer and acceptance?
Section 5 of the Indian Contract Act, 1872 “An acceptance may be revoked at any time before the communication of the acceptance is complete as against the acceptor, but not afterwards.” Hence, the acceptor can revoke his acceptance at any time before his letter accepting the offer reaches the offeror.
Can you revoke an offer after acceptance?
Revoking an Offer Revocation must happen before acceptance. An exception to this rule occurs if the parties agree that the offer will remain open for a stated period of time.
What is reasonable time for rejection of goods?
(1) Rejection of goods must be within a reasonable time after their delivery or tender. It is ineffective unless the buyer seasonably notifies the seller.
When revocation is effective?
The general rule is that a revocation is effective when the offeree receives it.
What are the rules of revocation of an offer?
The offering party must communicate the revocation to the other party before they accept the offer, but once the revocation has been communicated the offer it pertains to is no longer considered valid and cannot legally be accepted. Revocation goes into effect as soon as it has been communicated to the relevant party.
Can an offer be revoked before it is accepted?
Revocability. The general rule, both in common law and under the UCC, is that the offeror may revoke his or her offer at any time before acceptance, even if the offer states that it will remain open for a specified period of time.
What is the rule under the UCC regarding revocation of offers?
UCC § 2-608 provides that after a buyer has accepted goods, the acceptance may be revoked under the following circumstances: "(1) The buyer may revoke his acceptance of a lot or commercial unit whose non-conformity substantially impairs its value to him if he has accepted it (a) on the reasonable assumption that its ...
What's the difference between revocation and rejection?
Rejection occurs before a buyer accepts the goods, whereas revocation refers to situations where a buyer has already accepted the goods. The UCC gives buyers the right to revoke acceptance of goods only in very limited circumstances.
Can a buyer reject goods after acceptance?
(2) Acceptance of goods by the buyer precludes rejection of the goods accepted and, if made with knowledge of a nonconformity, cannot be revoked because of it unless the acceptance was on the reasonable assumption that the nonconformity would be seasonably cured.
At what point in time is an acceptance effective?
At what point in time is an acceptance effective? An oral acceptance is effective at the moment the words are spoken directly to the offeror. Other acceptances are generally effective at the moment they are sent, if they are sent properly and the offer has not specified a different means of acceptance.
Under which of the following situations an offer is considered to be revoked?
REVOCATION. Revocation means an offer is withdrawn by the offerer. The general rule was established in Payne v Cave [1] that an offer can be revoked at any time before acceptance takes place. However, the revocation must be communicated effectively directly or indirectly to the offeree before acceptance [2] .
How long is an offer valid?
Also, if the merchant does not specify a time limit for when the offer will expire, the merchant firm offer rule states that the offer must remain open for a reasonable period of three months.
What is a revoke of acceptance?
In legal terminology Revocation of Acceptance refers to the following. Proposer makes an offer. Acceptor accepts the same and communicates the same to the proposer. Acceptor revokes/cancels this acceptance before the communication reaches the proposer. The Revocation of Acceptance is complete ONLY at any time before the communication ...
Why does a fax for revocation of acceptance not hold good?
S before the fax, the fax sent for ‘Revocation of Acceptance’ does not hold good. This is because the Revocation of Acceptance reached after the actual Acceptance.
When is a revocation only available?
Revocation is only available when the goods are nonconforming and the nonconformity substantially impairs the value to the buyer . Here, Billy has no use for the large basketballs, and so the nonconformity substantially impairs the value of the basketballs to Billy.
Why did Billy delay his acceptance?
Billy delayed revocation because he had a reasonable assumption that the nonconformity would be cured. Under the UCC, Billy can still revoke his acceptance at this time. This is because Shawn didn't cure the nonconformity seasonably, or within a reasonable amount of time considering the circumstances.
How long does Billy delay accepting basketballs?
Billy, therefore, delays revoking his acceptance for over one month, while he waits for Shawn to cure the nonconformity.
How long does a buyer have to notify the seller of a nonconformity?
Otherwise, the buyer must notify the seller within a reasonable amount of time after he discovers or should have discovered the nonconformity. A 'reasonable time' is defined differently depending on the type of contract and the parties' circumstances. Here, one week is likely a reasonable amount of time.
Is Billy's revocation of acceptance under the UCC a remedy?
This is true even though Billy's revocation comes later than would normally be allowed under the UCC. Buyer's Remedy. Had Billy rejected or refused to accept the nonconforming basketballs, he would have a right to certain remedies. Fortunately for Billy, revocation of acceptance under the UCC offers the same remedies.
Can a buyer revoke acceptance?
A buyer can't revoke acceptance if the buyer knew or should have known of the nonconformity at the time of acceptance.
What is a revocation of acceptance?
Revocation of Acceptance. 1. Acceptance. Acceptance of Offer / Proposal is very essential for formation of a contract. According to Section 2 (b) of the Indian Contract Act, 1872 "when a person to whom the proposal is made signifies his assent thereto, the proposal is said to be accepted. A proposal, when a accepted, becomes a promise.
What is a proposal when accepted?
A proposal, when a accepted, becomes a promise. The person making the proposal is called the “promisor”, and the person accepting the proposal is called “promisee”, See also >>> What are the Essentials of a Valid Acceptance. 2. Revocation of Acceptance. Section 5 of the Indian Contract Act,1872 says that, an acceptance may be revoked ...
Can acceptance be revocation in England?
Revocation of Acceptance in England : In England, once latter of acceptance is posted, it binds both the parties and there appears to be no scope of revocation of acceptance by sending a telegram or through a phone call. See Also.
