The case is interesting for a number of reasons. First, it indicates that a promise to hold an offer open is not binding, unless contained in a deed or given for some consideration in return (see Chapter 3). Secondly, it clearly indicates that the offeror need not communicate his/her revocation personally, nor even attempt to, so long as objectively clear information reaches the offeree (it is not clear whether any source of such information will suffice). Thirdly, in the judgments there is an undoubted tension – in : An outright refusal of an offer brings the offer to an end, so that it is not open for subsequent acceptance. Likewise, a counter-proposal (counter-offer) is seen as functioning as a rejection of the original offer. The basic approach of the courts is demonstrated clearly in Hyde v Wrench, where Wrench (on

doi:10.4324/9781843141518-29

Chapter

No Image Available

Chapter

The case is interesting for a number of reasons. First, it indicates that a promise to hold an offer open is not binding, unless contained in a deed or given for some consideration in return (see Chapter 3). Secondly, it clearly indicates that the offeror need not communicate his/her revocation personally, nor even attempt to, so long as objectively clear information reaches the offeree (it is not clear whether any source of such information will suffice). Thirdly, in the judgments there is an undoubted tension – in

ABSTRACT

The case is interesting for a number of reasons. First, it indicates that a promise to hold an offer open is not binding, unless contained in a deed or given for some consideration in return (see Chapter 3).33 Secondly, it clearly indicates that the offeror need not communicate his/her revocation personally, nor even attempt to, so long as objectively clear information reaches the offeree (it is not clear whether any source of such information will suffice).34, 35 Thirdly, in the judgments there is an undoubted tension – in part, they echo the ‘objective principle’ with their references to ‘knowing’ that the property has been sold, but, elsewhere, there is a strong subjective flavour. Are we witnessing here the ‘birth pangs’ of the classical model?