Summary of Orient Bank v. Bilante International case
Orient Bank v. Bilante International
The respondent applied for a loan of N18m and then the appellant sent him a formal offer of loan with terms on which the bank would grant it also adding that the respondent kindly confirm the offer by signing and returning duplicate copy of the letter. The law states that where the offeror prescribes a particular mode of acceptance, that method shall be adopted by the offeree otherwise acceptance would be ineffective. The respondent did not do that, rather, he wrote another letter containing new terms. In addition to constituting a counter offer, acceptance was invalid due to failure in following the prescribed mode.
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