Revocation Of Agreement For Sale
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How to fill out Revocation Of Agreement For Sale?
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FAQ
UCC § 2-608 provides that after a buyer has accepted goods, the acceptance may be revoked under the following circumstances: "(1) The buyer may revoke his acceptance of a lot or commercial unit whose non-conformity substantially impairs its value to him if he has accepted it (a) on the reasonable assumption that its
The general rule was established in Payne v Cave 1 that an offer can be revoked at any time before acceptance takes place. However, the revocation must be communicated effectively directly or indirectly to the offeree before acceptance 2 .
The Revocation of Acceptance is complete ONLY at any time before the communication of acceptance is complete as against the acceptor, but not afterwards. Revocation of Acceptance too can be either oral or written. Acceptance has to be revoked mandatorily before the same reaches the Offerer.
(2) Revocation of acceptance must occur within a reasonable time after the buyer discovers or should have discovered the ground for it and before any substantial change in condition of the goods which is not caused by their own defects. It is not effective until the buyer notifies the sellerof it.
Revoking an OfferWhoever makes an offer can revoke it as long as it hasn't yet been accepted. This means that if you make an offer and the other party wants some time to think it through, or makes a counteroffer with changed terms, you can revoke your original offer.