Contract Law:

[ellepenndragon]

If somebody makes an offer and gives a certain date until you need to give acceptance, can they retreat that offer before the date they stated or is that against the rules of contract law - for example, I offer you a mobile phone and say you have until the 19th April to agree or reject but then I say am no longer selling it on the 15th April is that allowed and would you still be held to a contract if they agree after you have withdrawn the offer?

Thank you.

[Buenchico]

A contract only comes into existence when BOTH an offer AND an acceptance have been made. As I understand the wording of your question, there's solely an 'invitation to treat' involved, which the person making the invitation is at liberty to withdraw at any time.

It's roughly akin to a shop owner putting something in his window for sale at £x but, when you go in to buy it, then refusing to sell it to you for that amount, or at all. He/she is perfectly entitled to do so as he/she has never accepted your offer to purchase the item, meaning that no contract has been created between the two of you.

[Peter Pedant]

I think it depends - house buying you can certainly do that. (gazumping)
As Chris says, a contract ( offer acceptance and considertion - here moolah ) hasnt been made - so no contract

If you are going to say no - it called a revocation and you really shd get it in before they trump with a yes.

You can contractually get them to hold open a contract - by paying. as in I will pay £5 to have you hold over the decision til friday and if I say no, you get to keep the fiver. ( which I do sometimes)

as for advertising x for £5 in a shop window and then saying oops no, my bad - trading standards may show an interest - - bait and change...

[DTCwordfan]

correct as to property but not in Scotland.....

[ellepenndragon]

does it matter if there is a date on it? like the person promises they will hold the car until a certain date and then they decided they aren't going to sell anymore - does that affect any potential contract?

[Peter Pedant]

o hahaha did you see Nicola

if you were in the EEC - you would not have any vaccine?

Oor Nicky - yes we would ! - Beeb interviewer looks suitably gobsmacked

yes - scots land law I keep away from.

[Peter Pedant]

potential contract is nt a term in law
I think you have to walk away from this one ...

[DTCwordfan]

as Peter said, you have to have offer to treat, acceptance and to complete the contract consideration. As to moving from acceptance to consideration, it depends on the wording to timing - and that's where gazumping and gazundering come into play on property exchanges in England and Wales as the wording is often (deliberately) left loose in both selling or buyer markets....and of course the deal is subject to clearing surveys/land search etc as requested. In Scotland, the obligation on surveys is on the seller to provide the info, unlike England and Wales where it is the buyer.

In Northern Ireland, it is probably craic and a bucket of Guinness or whatever down in the pub or liquid bank......