Innih v. Ferado
The appellant wrote a letter to the respondent company offering sell certain assets for N3,500,00 and specifically provided that payment should be made within the next three days. The respondent requested the period of payment be extended to three weeks. On hearing this, the appellants immediately sold the assets to a third party and the respondent brought suit against the appellant. It was held that there was no contract as the respondents request for extension of period of payment was regarded as a counter offer capable of acceptance or rejection by the appellants. The appellants validly rejected this counter offer by their conduct in selling to a third party. The Court of Appeal stated that for an acceptance to be operative, it must be plain, unequivocal, unconditional, without variance of any sort between it and the offer and must be communicated to the offeror without reasonable delay. A conditional assent like the ones made by the respondent in the above case does not constitute acceptance.
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