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  •  X makes an offer to Y to sell his equipment for Rs.1000. No time is specified for the accepta

 X makes an offer to Y to sell his equipment for Rs.1000. No time is specified for the acceptance. Y sends his reply two years after receiving the offer. Which of the following is correct?

Option: 1

There arises a contract between 'X' and 'Y' to sell or buy the equipment in question for Rs.1000.

           


Option: 2

There does not arise any contract between 'X' and 'Y' to sell or buy the equipment in question for Rs.1000


Option: 3

'X' is bound by his offer and hence cannot reject the acceptance made by 'Y'


Option: 4

 There arises a promise by 'Y' to buy the equipment


Answers (1)

best_answer

There does not arise any contract between 'X' and 'Y' to sell/ buy the equipment in question for Rs.1000. An offer must be accepted within the prescribed time and if no time is prescribed, then the acceptance must be made within a reasonable time.

Posted by

vinayak

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