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Nasreen posted an Question
January 04, 2021 • 18:32 pm 30 points
  • UGC NET
  • Commerce

What does it mean acceptance must be from competent person and acceptance subject to contract is no acceptance.both are different kindly elaborate this terms

what does it mean acceptance must be from competent person and acceptance subject to contract is no acceptance.both are different kindly elaborate this terms

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  • Priya gulani

    Agreements for the sale of land in England are usually made ‘subject to contract’. The use of the term suspends the binding effect of an offer until there is a formal contract in writing.  Although the term is applied mainly to contracts for land it would have the same effect in relation to other types of contract as well.  Acceptance ‘subject to contract’ must be distinguished from the use of a provisional contract, which is made on the understanding that the parties wish to replace the preliminary contract with another at a later date.  Even if the immediate contract is described as provisional it takes effect at once.

  • Priya gulani best-answer

    Acceptance must be an unqualified agreement to al the terms of the offer.  It can be defined as “A positive act by a person to whom an offer has been made which, if unconditional, brings a binding contract into effect”.  The contract comes into effect once the offeree has accepted the terms presented to them, this is the point of no return; after acceptance, the offeror cannot withdraw the offer and both parties will be bound by the terms that they have agreed.  Acceptance may be by express words, by action of inferred from conduct.

  • Rucha rajesh shingvekar best-answer

    1) Acceptance must be from competent person this is is essential for acceptance. 2) Acceptance subject to contract is no longer acceptance means If a subject to clause is in the contract, the seller commits to that buyer for a period of time and cannot accept any other offers during that time period.

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    Every person is competent to contract who is of the age of majority according to the law to which he is subject, and who is of sound mind and is not disqualified from contracting by any law to which he is subject.

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    When subject to contract is added to a letter, email, or another form of communication it is stating that the communication isn't legally binding until it is agreed to by all parties. A contract is not legally binding until two or more parties have reviewed and agreed to the terms of the contract.

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    see this

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    mam "subject to contract means offer has been accepted but paper work has not yet done" in simple terms?

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    https://www.upcounsel.com/define-subject-to-contract#:~:text=When%20subject%20to%20contract%20is,agreed%20to%20by%20all%20parties.&text=A%20contract%20is%20not%20legally,the%20terms%20of%20the%20contract. see this

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    okay

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