“Pictured is the railway station where the dramatic events of Dickinson v Dodds took place in 1876. Dickinson established two rules. First, promises to keep an offer open must be supported by consideration in order to be binding. Second, a revocation is effective even if communicated through third parties. Dickinson learned that Dodds had already sold the property that Dodds had offered him. He rushed to try to accept the offer before it lapsed but Dodds refused to sell, saying the property was already sold. The court ruled for Dodds. As a seller put it in another more modern case, ‘You snooze, you lose’ …” (more)
[Jeremy Telman, ContractsProf Blog, 25 January]
First posted 2022-01-29 15:00:55
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