Rizwan offered to sell his farm to Umer for Rs 10 million. The offeree declined the offer. Rizwan again reinstated his offer for selling the farm at Rs 10 million to the offerree’s agent stating that it is the final offer from his side. Umer through a letter, offered to buy the farm for Rs 9 million. Rizwan refused to sell the farm at that price. Umer several days later, offered to buy the farm at the initial price of Rs 10 million. Rizwan did not send any agreement to that and refused to sell the farm, because of which the Umer sued for breach of contract. Explain the case with the help of relevant section of law.
Rizwan offered to sell his farm to Umer for Rs 10 million. The offeree declined the offer. Rizwan again reinstated his offer for selling the farm at Rs 10 million to the offerree’s agent stating that it is the final offer from his side. Umer through a letter, offered to buy the farm for Rs 9 million. Rizwan refused to sell the farm at that price. Umer several days later, offered to buy the farm at the initial price of Rs 10 million. Rizwan did not send any agreement to that and refused to sell the farm, because of which the Umer sued for breach of contract. Explain the case with the help of relevant section of law.
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
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Rizwan offered to sell his farm to Umer for Rs 10 million. The offeree declined the offer. Rizwan again reinstated his offer for selling the farm at Rs 10 million to the offerree’s agent stating that it is the final offer from his side. Umer through a letter, offered to buy the farm for Rs 9 million. Rizwan refused to sell the farm at that price. Umer several days later, offered to buy the farm at the initial price of Rs 10 million. Rizwan did not send any agreement to that and refused to sell the farm, because of which the Umer sued for breach of contract. Explain the case with the help of relevant section of law.
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