Termination of Offer

In: Other Topics

Submitted By Beckyxp
Words 545
Pages 3
Offers may be terminated in any one of the following ways: Revocation of the offer by the offeror; counteroffer by offeree; rejection of offer by offeree; lapse of time; death or disability of either party; or performance of the contract becomes illegal after the offer is made.

The general rule is that the revocation is effective only when it is made known to the offeree. Until it is communicated to the offeree, directly or indirectly, the offeree has reason to believe that there still is an offer that may be accepted. The offeree may rely on this belief. If the offeror seeks to revoke the offer, but the offeree accepts the offer before notice of the revocation, a valid contract is created.

A conditional acceptance is a counteroffer. For example, if Jones accepts the $10,000.00 price, but adds a term by stating that new tires must be put on the car, this is a conditional acceptance and therefore a counteroffer.

A rejection terminates an offer. A rejection is an offeree’s communication that an offer is unacceptable.

When an offer states that it will be open until a particular date, the offer terminates on that date if it has not yet been accepted. This is particularly clear when the offeror declares that the offer shall be void after the expiration of a specific time. If the time passes, and the offeree attempts to accept the offer, this is in effect a counteroffer from the offeree and can be accepted or rejected by the offeror.

If the offer does not specify a time, it will terminate after a reasonable period of time has passed. What constitutes a reasonable time depends on the circumstances of each case. For example, if the commodity to be sold or purchased is a perishable commodity, such as food, the reasonable time would be shorter than if the matter to be sold is machinery.

If either the offeror or the offeree dies or becomes mentally…...

Similar Documents

Evaluation & Termination

...audit team may have to speak to the project manager and appeal to him or her. If that does not work, the audit team may have to go to the senior management. If access is fully prohibited, then the result of the audit would be unfavorable to the organization (Mantel et al., 2008). 2. Near the end of your project, you are contemplating the selection of a termination manager. In your opinion as a project manager, what are some characteristics of a good termination manager? Project termination is one of the most serious decisions that a project team must make. The project manager, as well as the team members and stakeholders would feel that they have personally failed. In addition, this may affect their careers and motivation and productivity will significantly decrease (Project Management Knowhow, 2012). However on the other hand conscious project termination of the project at the right time, based on clear and well communicated criteria, strongly mitigated with the project management team, and mutually decided, is one of the boldest actions that involved or affected members of an organization can take. Project terminations are necessary because of (Project Management Knowhow, 2012): • Technical reasons • Requirements or specifications of the project result are not clear or unrealistic • Requirements or specifications change fundamentally so that the underlying contract cannot be changed accordingly • Lack of project planning, especially risk management • The......

Words: 1858 - Pages: 8

Termination Letter

...Dear Kathleen: This letter confirms that the date of termination of your employment with xxx. is Monday, July 21, 2012. If you are enrolled, your medical insurance benefits will extend through the end of the month in which your termination occurs subject to the usual employee co-payment contributions, after which time you may elect COBRA continuation of benefits. Further information about your COBRA rights will be sent to you. The effect on your other benefits is explained in the chart attached to this letter. If you have vested stock options as of the date of your termination, access your Charles Schwab account or contact Charles Schwab per the contact information below to exercise vested options. If you have questions about your benefits or stock, please contact the appropriate entity listed below. Plans administered through: Aetna Healthcare 888-220-1017 http://member.aetna.com/Member_Public/ Definity Healthcare 866-333-4648 www.definityhealth.com Vision Service Plan (VSP) 800-877-7195 www.vsp.com WageWorks – Flexible Spending Accounts 877-924-3967 www.wageworks.com Delta Dental/WA Dental Service 800-238-3107 http://www.deltadentalwa.com Conexis – COBRA 877-722-2667 www.conexis.org Magellan – Employee Assistance Program 800-523-5668 http://www.magellanassist.com/ Minnesota Life 800-843-8358 Putnam Investments – 529 Plan 800-685-6542 www.ibenefitcenter.com The Vanguard Group – 401(k)......

Words: 373 - Pages: 2


...| Termination | | One thing that I have been involved with before has been termination. I have found that over the years there have been many situations and many types of people who have had to be let go for so many different reasons. When handling these types of situations it can be of great difficulty to safely and ethically terminate a person without saying or doing something wrong. I would have to say that termination is one of my least favorite things to do simply because I believe strongly in employee development and when I see people go I feel as if I have fail them in some way. Here I will go over some examples of terminations I have experienced that include moral and ethical issues having to do with termination, the relationship between social issues and ethical responsibility, and laws that can cause a manager to make a decision to terminate a person. There are many times when we come to find out that someone we have worked with for quite some time has to be let go and the reason are endless. If an employee is stealing money from the company for example, a cashier, it can be heartbreaking and can conflict with many people’s ethical and moral values. One reason that would stop someone from telling on that person could be anything including fear, friendship, or just the simple wish to stay out of any situations such as that. If the person is a friend it can be extremely difficult to go to someone and say that there is someone stealing however in......

Words: 1059 - Pages: 5

Employment Termination

...Employment Termination What Every Manager Should Know Introduction Termination is one of the most difficult tasks a manager will have to perform. A manager needs to have a good understand of everything that is involved in an employee exiting the company. This paper is designed to do just that by giving a broad overview of the topic and highlighting the most important parts. By reading this paper a manager should be much more prepared and less likely to commit a mistake during the termination of an employee. The manager should also be able to make the termination a smoother transition and therefore an easier task to complete. Definitions Definitions of some of the important terms are given to give a manager a better understanding of some of the main ideas involved in employment termination. There are basic ideas that go along with each definition to give a better idea of why the term is important to the topic. Termination from Employment Termination from employment occurs when an employee’s job ends. Termination can be voluntary or involuntary. Voluntary Termination Voluntary termination is when an employee voluntarily ends his or her employment at an organization. This would include resignation or retirement. Another common reason for voluntary termination is a new or better job, typically one that offers higher remuneration or improved career prospects [ (Heathfield, Termination) ]. Involuntary Termination Employment can also be involuntary, meaning that the......

Words: 2782 - Pages: 12

Agreement and Offer

...represents an invitation to treat and each tender submitted amounts to an offer unless the request specifies that it will accept the lowest or highest tender or other condition. If the request contains such a condition this will amount to an offer of a unilateral contract where acceptance takes place on performing the condition: Spencer v. Harding Law Rep. 5 C. P. 561 Case summary Auctions Where an auction takes place with reserve, each bid is an offer which is then accepted by the auctioneer. Where the auction takes place without reserve, the auctioneer makes a unilateral offer which is accepted by the placing of the highest bid: Heathcote Ball v Barry [2000] EWCA Civ 235 Case summary Machines The machine represents the offer, the acceptance is inserting the money: Thornton v Shoe Lane Parking [1971] 2 WLR 585 Case summary Termination of offers An offer may be terminated by: 1. Death of offeror or offeree 2. Lapse of time An offer will terminate after a reasonable lapse of time. What amounts to a reasonable period will depend on the circumstances. Ramsgate Victoria Hotel v Montefiore (1866) LR 1 Ex 109 Case summary 3. Revocation An offeror may revoke an offer at any time before acceptance takes place: Dickinson v Dodds (1876) 2 Ch. D. 463 Case summary This may not apply in unilateral offers where acceptance requires full performance: Errington v......

Words: 531 - Pages: 3

Tenure and Termination

...Tenure and Termination Grand Canyon University: EDA 555 June 4, 2013 The greatest resource we have is our children. Parents entrust teachers to do educate and enrich children’s lives and to do so in a caring, safe, and to do so in a professional manner. There have been situations where sometimes the role of a teacher is misrepresented or compromised. These situations are sometimes not real, or they are a result of lies or hear say, but at other times they turn out to be true. Our society has taken measures to protect our children from being abused by adults. At the same time our society has also taken measures to protect teachers from certain injustices or false accusations. Many states have set in place tenure policies to protect competent teachers from malicious accusations but when do we draw the line? The law at times is not a well-defined contrast of black and white, and at times people need to decide on a shade of gray. Tenure is a form of job security that teachers earn after they reach a certain level of professionalism (Scott, 1986). When a teacher has earned tenure, they have the right to a continual teaching contract as long as they abide by the guidelines set forth in their contracts. It is believed that students benefit more from the experience and ability of a continuing contract teacher. Some of the protections that are extended to a tenured teacher are that they cannot be discriminated against based on their personal views, personality......

Words: 1681 - Pages: 7


... Offer to Purchase Real Estate I, Ying Hua Wang , referred to herein as BUYER, offers to purchase the following described real estate: Street Address : ________3460 A du Parc_____________ Property Description : ___________________________________________________________ From __Julio_ _________ , referred to herein as SELLER , upon the terms and conditions stated herein. The gross purchase price shall be $ __360,000____(dollars). This offer is conditioned upon BUYER obtaining loan approval at least __ days prior to closing of this transaction, BUYER shall make a mortgage loan application within 10 working days of the acceptance of this offer, and should the BUYER's loan application be denied, the BUYER shall have the option, within 2 business days to rescind this transaction. If BUYER elects to rescind the transaction, BUYER shall receive any deposits made from SELLER. The closing will be held within 30 days of the acceptance of this offer to the SELLER, but in no event in less than 20 days from the notice. The SELLER shall convey to the owner by warranty deed the property herein, and the title thereto shall be merchantable. Within 30 days of acceptance, the SELLER shall provide a binder for title insurance in the principal amount of the purchase price. The title shall be free and clear of any encumbrances other than those, if any, to be assumed by the BUYER at closing. Should any defects be in the title, the SELLER shall have...

Words: 709 - Pages: 3

Ethical Issues with Termination

...with Termination At-will employment means that the employee or employer has the right "to end the employment relationship at any time with or without notice or cause." (FedEx Office: AllBusiness, 1999-2009) Involuntary termination is a touchy subject for employers and it can happen for numerous reasons: specific cause, such as stealing, poor performance, and layoffs due to lack of work. Even though most companies have an "at-will" relationship with their employees, it is still arguably illegal to terminate an employee for no reason. When it comes to termination, managers are faced with current moral and ethical issues. In a lot of companies, in addition to professional relationships, managers develop personal relationships with their employees. In most cases, employees spend a majority of their week (40+ hours) with their "work family." Co-workers learn about each other's families, extra-curricular activities, and personal problems. Even if managers try to separate themselves from their employees on a personal level, it is difficult to ignore new school pictures being displayed on their desks or avoid a discussion about a recent weekend vacation. When legitimate problems arise in a company which requires involuntary termination, the manager faces a dilemma. They must fire an employee because it is best for the company and ignore the thoughts of how it will affect their family and personal life. Often times, employees take the involuntary termination......

Words: 1329 - Pages: 6

Offer and Acceptance

...binds both the person that made the offer and the person accepting the offer to the terms of the contract. http://www.duhaime.org/LegalDictionary/O/Offer.aspx Terms and conditions under which an offer is made, such as quantity, price, discounts, delivery date, shipping costs http://www.businessdictionary.com/definition/offer.html Acceptance of an offer is the final and unequivocal expression of assent to another's offer to contract. http://www.duhaime.org/LegalDictionary/A/Acceptance.aspx "Acceptance means the signification by the offeree of his willingness to enter into a contract with the offeror on the terms offered to him by the latter. Without an acceptance there can be no contract ...." "In the ordinary case ... there is a manifestation of willingness to be bound by one party followed by a manifestation of an assent by the other by words or conduct, generally and usefully called offer and acceptance." "Each of (these) definitions contemplates a willingness, either in words or by conduct, to be bound by the terms of the offer. But each definition also entails a manifestation, or a signification, or an indication of such willingness." Book 9(1) of Halsbury's Laws of England, 4th Edition (2007) “termination of offer”, and can happen in a number of ways, for a variety of reasons. Termination of offer is different from “termination of contract”, as a contract has not yet been fully formed in a termination of offer. How is an Offer Termination Accomplished? There are......

Words: 1181 - Pages: 5

Termination of Case Study

...Termination of Case Management CJHS/420 May 25, 2015 Case management offers the potential for customized services, coordination, and a coherent, comprehensive approach to the problems of clients. It is not a magic bullet. The reality is that an effective case management effort is tough and time-consuming to implement. Whatever form it takes (and it takes many forms), case management is more likely to pave the way for valuable, but incremental, improvements in services rather than wholesale change. Case managers serve as surrogate parents, role models, counselors, social entrepreneurs, and political advocates. They nag, cajole, prod, and encourage clients. They pressure institutions to act responsibly or lubricate the gears between institutions. They make referrals, and monitor client fit. They deal with the client’s family life, work and school; social services and public institutions. They alter client behaviors strengthen client capacity to exercise self-determination and autonomy. With all those responsibilities, there is till the process of terminating case management services and providing the client with independent care for growth. Termination of case management services is appropriate on many occasions and may occur for a variety of reasons. In addition to procedures to insure a client’s due process rights, the case manager will use an assortment of skills to help the client successfully separate from the relationship. Termination of the case......

Words: 1131 - Pages: 5

Sam Termination

...Security company Security company Sam‘s Termination UNFAIR DISMISSAL Report Soo Shew Yeang, Team Manager Firrst Defense— 666 forest road Hurstville New South West Australia EMAIL: firstdenfense@gmail.com 27.10.2015 Introduction SAM is an employee of a small security company. She is upset because previously she has missed some projects and right now she is working at a project new programming language which is not she is not familiar with it. As manager I have been asked to assess SAM’s difficulties and track progress of SAM at workplace. SAM has been consulting to Doctor due facing stress problem at her work. In a meeting SAM walked off because of her poor health. The medical certificate has been filed with Human resource department when meeting was going to be held with me. Decision has been decided by supervisor, my Human Resources department and me to dismiss Sam on the basis of serious misconduct from Security Company by sending a registered mail to Sam’s personal mail address. SAM took an action by filling a case of unfair dismissal with Australia Industrial Relation Commission. SAM has won case of hearing because there was no evidence related to fair dismissal process of SAM. It was being analysed that due to poor management and loopholes in the Human Resources system. SAM won case and penalty was being paid to......

Words: 3394 - Pages: 14

Offer & Acceptance

...for any price is a valid offer. One of the requirements of a valid offer is that the offer must be clear in meaning. Section 30 of the Contracts Act 1950 also provides that agreements are void if there is uncertainty in the meaning or when the meaning is capable of being made certain. In Ahmed Meah & Anor v Nacodah Merican, the defendant promised to build a ‘suitable house’ upon the marriage between plaintiff and the defendant’s daughter as a gift to them. The plaintiff sought for specific performance of the agreement but it was held that the agreement cannot be enforced as the promise is void for uncertainty. This is because the ‘suitability of the house’ was uncertain to the nature as well as the value of the house to be built. In the present case, Shaggy’s statement that he is willing to pay any price for the display case is too vague to be constituted as an offer. What is the range of value represented by the term ‘any price’? Would RM 1.00 suffice? What if the price is beyond his financial capability? An offer has to be unequivocal and clear. It could then be deduced that his statement was to induce Freddie to offer him the display case as well as to show Shaggy’s mere expression of willingness to enter into negotiations. Subsequently, Freddie was the one who actually offered to sell to Shaggy the display case at the price of RM 160,000.00. The second issue in this case is whether Shaggy’s silence can amount to an acceptance of Freddie’s offer of the display case,......

Words: 1160 - Pages: 5

Gp Offer

...GrameenPhone Recharge Offer Grameenphone is the leading telecommunications service provider in Bangladesh. It is the first company to introduce GSM technology in Bangladesh, it launched its services in March 1997. With more than 50 million subscribers Grameenphone is the largest mobile phone company in the country. Grameenphone widely abbreviated as GP. GP is available for PREPAID & POSTPAID customers For both customers GP gives various offers. For Prepaid customer they often offer some Recharge Offer. CUSTOMER PROFILE Demographic | Age: 15 and aboveGender: Female & Male Occupation : General (Venerable, Middle age & Young )Income : 5000 & above | Geographic | Location: Urban, Sub-Urban and ruralArea: All over the Bangladesh | Psychographic | Preference: QualityAttitude: Both positive and negativePerception: Trusted Brand, Reliable, ConvenientLifestyle: Modern, Busy and Independent Lifestyle |      IMPLICATION OF IMC TOOLS Advertisement:  1. PRINT AD : To abide by the IMC of GP Recharge Offer there are some Print ad, TVC and Banner ad to capture the target market. 2. PUBLIC RELATION : By doing various Campaign of Recharge Offer GP tries to get closer to it's   target market. GP give free Internet on the basis of recharging a particular amount in an inactive SIM, so that they can get back its old user.  3. DIRECT MARKETING : GP Recharge Offer also reach it's target market by using direct marketing through facebook page. Reviews The IMC......

Words: 371 - Pages: 2

Contract Termination

...claim for a price increase. Rarely does anything but nonpayment justify termination by a contractor. The greatest risk of the contractor in terminating a contract is that the termination could be determined by a court or arbitration panel to be wrongful. If the termination is proved to be wrongful, then C terminating the contract not only fails to collect its additional funds spent to complete the project, but must also pay A its contract payments through the date of termination and potentially the loss of profit on the work not performed. 2. Termination for convenience clauses are intended to provide the owner with the option to terminate the remaining balance of the contracted for work for a reason other than the contractor’s default. The owner can terminate the balance of the work for convenience as long as there is a termination for convenience clause in the contract. However, if the contract does not contain a termination for convenience clause, and the owner terminates the contract before the work is complete, then the contractor would be entitled to the value of the work completed plus profit that he or she would have earned on the balance of the contract. The subcontractor will be entitled to recover the net benefit conferred on the prime contractor/owner. Also the subcontractor did waive its right to terminate the prime for non-payment as it continued to perform. 3. Typically, a termination for convenience clause states: “Owner may at any time and for any......

Words: 690 - Pages: 3

Contractual Offer

...An offer is a show of willingness to enter into an agreement that involves another person’s acceptance. So an offer, that one accepts becomes an agreement. The offeror is the one who makes the offer and the offeree is the person to whom the offer is made. To be a valid offer (I.e., to constitute an offer), a manifestation of intent to enter into a bargain must have the “3 Cs.” First, the contract must embody a promise, or commitment as opposed to a statement of present intention or preliminary negotiation. Statements such as “I intend to sell you my car” or “come talk to me about buying my car” are not offers. Saying “if you pay me 100 dollars, I will sell you my car, is a valid offer. Whether a statement is an offer, depends on whether a reasonable person would believe it to be an offer regardless of the subjective belief, for example, given the trade customs of an industry, would a reasonable person think that an offer was made? The court faced with this situation would consider factors such as; 1) language, whereby the words “offer” or “promise” have been used. Courts also consider the definitiveness of the terms and language of the proposal to help decide whether it is an offer. “First come, first served may indicate an offer because it provides buyers with a clear means of accepting by buying first. 2) Communications made by mass media are usually held to be invitations for offers and not offer themselves. For example, a TV advertisement announcing that a dealer has...

Words: 1533 - Pages: 7

Willow Shields | Abenteuer auf der Luna (0) | Episodio 10: Il Lord degli Orchi