An Agreement To Hold An Offer

Please note that the supplier`s request for acceptance is not interrupted by a request for the offer or by a request for different conditions. For example, please note that a firm bid becomes irrevocable even if the bidder only gives a nominal consideration in exchange for a promise to leave the bid open. For example, tenders are generally considered invitations, with tenders themselves constituting tenders which can be accepted or rejected. However, the call for tenders may be the subject of a separate tender for the examination of all tenders submitted. Each enforceable contract consists of three basic elements: offer, acceptance and consideration. In this module, we study offer and acceptance, which constitute mutual consent, the basis of a contract. Any uncertain part of a contract is unenforceable – if it is possible to separate that part from the rest of the contract, the court will do so and uphold the rest, failing which the entire agreement will not be enforceable. The purpose of the P.O. Box Rule is to assist a court in deciding what measure is valid if notification of an acceptance and revocation is not immediate. [41] According to the voicemail rule, the acceptance of a tender by the tenderer is valid as soon as it sends it. [42] As soon as a bidder accepts the bid, the bidder cannot revoke the bid.

On the other hand, if a supplier wishes to revoke the offer, this revocation only applies when it is received. The tenderer`s refusal shall also not apply until it has reached the tenderer. . . .