Question Scenario
Explain the modes of revocation of an offer as per the Indian Contract Act, 1872.
Estimated Writing Time: 9 mins Try in Practice Mode
Source: 6)a)5m,June2018, 2)a)7m,MTP1,Dec20185 Marks
Back to Law List Suggested Answer
1. Provisions of the Act / Applicable Law
iv) By death or insanity: Death or insanity of the proposer would result in automatic revocation of the proposal but only if the fact of death or insanity comes to the knowledge of the acceptor.
vi) By counter offer By the non- acceptance of the offer according to the prescribed or usual mode
2. Analysis & Application of Facts
Modes of revocation of Offer
i) By notice of revocation
ii) By lapse of time: The time for acceptance can lapse if the acceptance is not given within the specified time and where no time is specified, then within a reasonable time.
iii) By non-fulfillment of condition precedent: Where the acceptor fails to fulfill a condition precedent to acceptance the proposal gets revoked.
v) By counter offer
vii) By subsequent illegality
Exam Strategy Tip
When answering law questions in the CA Foundation exam, follow the "Provision -> Facts -> Conclusion" structure for maximum marks. Ensure to state the relevant sections where applicable to earn bonus marks from the evaluator.
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