rangnath.kulkarni (nil) 02 February 2022

When written Acceptance of offer becomes contract.

House owner received written offer of price at which the buyer wants to buy house.The owner gives written approval and acceptance of rate .The deal did not go through as owner got higher offer from another buyer.Will the former buyer take legal action against the owner.

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3 Replies

Isaac Gabriel (Advocate) 02 February 2022

If the ageed time for offer and acceptance is not honored, legal notice could be issued for further action.

Megha 02 February 2022

Hi,

As per Section 2(h) of the Indian Contract Act,1872, a contract is an agreement enforceable by law. The essential requirements of a contract are a valid offer and acceptance, lawful consideration and object, free consent.

If a contract is made duly fulfilling these conditions, it can be enforceable by law and if a person fails to fulfill his part of the promise he can be sued for breach.

Since the seller duly accepted your offer and the same was communicated to you, non-performance on his part results in a breach and he can be sued for same.

Best regards,
Megha