It is important to determine when an offer becomes
effective, particularly with regards to the three legal acts which
are likely to be observed before or after an offer becomes
effective: acceptance (or rejection), revocation and withdrawal of
an offer.
Introduction
It is important to determine when an offer becomes effective,
particularly with regards to the three legal acts which are likely
to be observed before or after an offer becomes effective:
acceptance (or rejection), revocation and withdrawal of an offer.
The consequences of an offer becoming effective shall be evaluated
below in relation to these there legal acts.
Significance in relation to acceptance
Article 15(1) of the United Nations Convention on Contracts for
the International Sale of Goods (the "CISG" or the
"Convention") provides that "An offer becomes
effective when it reaches the offeree." Although the
provision does not hold a mandatory nature1, it foresees
that an offer gains