Explain briefly the law relating to communication of offer, acceptance and revocation. Is there limit of time after which an offer cannot be revoked?
The law regarding the communication of offer, acceptance, and revocation is crucial in contract formation and is governed by various legal principles and precedents. Let's delve into each aspect:
1. Offer: An offer is a proposal made by one party (the offeror) to another (the offeree) indicating a willingness to enter into a contract under certain terms. For an offer to be valid, it must be communicated clearly, with an intention to create legal relations, and its terms must be definite and certain.
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