When and how is it revoked?

Revocation is the act of recall or annulment. It is the cancelling of an act, the recalling of a grant or privilege, or the making void of some deed previously existing. A temporary revocation of a grant or privilege is called a suspension.

How and when is an offer revoked?

A proposal/offer may be revoked by the proposer/offeror by giving notice to the offeree before it is accepted. Notice of revocation will take effect when it is in the knowledge of the offeree before the communication of acceptance.

When and how is continuing guarantee revoked?

A continuing guarantee may at any time be revoked by the surety, as to future transactions, by notice to the creditor. (a) A, in consideration of B's discounting, at As request, bills of exchange for C, guarantees to B, for twelve months, the due payment of all such bills to the extent of 5,000 rupees.

What does it mean when your revoked?

transitive verb. 1 : to annul by recalling or taking back : rescind revoke a will. 2 : to bring or call back. intransitive verb. : to fail to follow suit when able in a card game in violation of the rules.

How an offer can revoked?

Revoking an Offer

Whoever 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.

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When a contract is revoked?

Revocation is an annulment or cancellation of a statement or agreement. In the context of contracts, revocation may refer to the offeror canceling an offer.

When can a proposal be revoked?

A proposal may be revoked at any time before the communication of its acceptance is complete as against the proposer, but not afterwards. An acceptance may be revoked at any time before the communication of the acceptance is complete as against the acceptor, but not afterwards.

What is revoke example?

To revoke is to take away something, to render some decree that has already been made unenforceable, or to make something invalid. An example of revoke is when a doctor has his hospital privileges taken away. An example of revoke is when a prison sentence is canceled and the prisoner is let free.

Does revoke mean delete?

Revoke means to take back, withdraw, or cancel. Revoke is typically used in the context of officially taking back or cancelling some kind of right, status, or privilege that has already been given or approved. Passports and laws can be revoked, for example.

How do you use revoke in a sentence?

How can a contract of guarantee be revoked?

Continuing guarantees can be revoked by giving notice to the Creditor but this applies only to future transactions. Just by giving a notice the surety cannot waive off his responsibility and still remains liable for all the transactions that have been placed before the notice was given by him.

When the continuing guarantee can be revoked under the Indian Partnership Act 1932?

38. Revocation of continuing guarantee by change in firm. —A continuing guarantee given to a firm, or to a third party in respect of the transactions of a firm, is, in the absence of agreement to the contrary, revoked as to future transactions from the date of any change in the constitution of the firm.

When can a continuing guarantee may be revoked by the surety Mcq?

29:- When can a continuing guarantee may be revoked by the surety: It can be revoked by the surely after the lapse of certain time period. It can be revoked by the surety after the happening of a certain predefined event. It can be revoked by the surety at any time as to future transactions by notice to the creditor.

What is meant by offer how it can be revoked explain with examples?

(1) By notice of revocation.

Offer may be revoked by a communication of a notice of revocation by the offeree to the other party before acceptance is complete against the offerer himself. An offer made in writing may be revoked by words of mouth. The notice of revocation may not always be express.

Under which of the following situations an offer is considered to be revoked?

REVOCATION. Revocation means an offer is withdrawn by the offerer. 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] .

Who may revoke a contract quizlet?

In contract law, revocation can also refer to the termination of an offer. [2] An offeror may revoke an offer before it has been accepted, but the revocation must be communicated to the offeree, although not necessarily by the offeror.

What is the purpose of revoke statement?

The REVOKE statement can cancel any of the following access privileges or roles that a user, or PUBLIC, or a role currently holds: Privileges on the database (but a role cannot hold database-level privileges) Privileges on a table, synonym, view, or sequence object.

What is true for the revoke statement?

The revoke statement revokes privileges. It removes database privileges or role access granted to the specified users, groups, roles, or PUBLIC. (To confer privileges, use the grant statement (see Grant (privilege) Statement).) You cannot revoke privileges granted by other users.

How do you revoke a role from user?

You can revoke any role if you have the GRANT ANY ROLE system privilege. To revoke an object privilege, you must previously have granted the object privilege to the user and role or you must have the GRANT ANY OBJECT PRIVILEGE system privilege.

What is the synonym of revoked?

Synonyms & Near Synonyms for revoked. refused, rejected, unsanctioned, vetoed.

Can an offeror revoke a contract?

- In unilateral contracts, any offer may be revoked at any time once the promisee has embarked upon performance prior to full completion of the required act (Mobil). However, there is a qualification that if there is an implied ancillary contract not to revoke revocation will not be permissible (Mobil).

How are contracts terminated?

Under the terms of any contract, both parties have an obligation to perform according to the contract. If one party fails to perform, blocks the other party from performing, or otherwise violates the terms of the contract without a legal justification, they have breached the contract and the contract can be terminated.

Can specific guarantee be revoked?

Section 130 of the Indian Contract Act, 1872 states that a continuing guarantee, i.e., a guarantee for a series of transactions can be revoked if a notice is served to the creditor. However, revocation in case of a specific guarantee is not possible if the contract entered into has been already acted upon.

How can surety be discharged?

The surety is discharged by any contract between the creditor and the principal debtor, by which the principal debtor is released, or by any act or omission of the creditor, the legal consequence of which is the discharge of the principal debtor.

What is Section 133 of Indian Contract Act?

Section 133 of ICA explains discharge of surety by variance. “Discharge of surety by variance in terms of contract. —Any variance, made without the surety's consent, in the terms of the contract between the principal 1[debtor] and the creditor, discharges the surety as to transactions subsequent to the variance.