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{{For|the film|The Last Shot}} |
{{For|the film|The Last Shot}} |
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In the law of [[contracts]], under the '''last shot rule''', a party implicitly assented to and thereby accepted a [[counter-offer]] by conduct indicating lack of objection to it. In addition to being based on a questionable notion of implied assent, the last shot rule tended in practice to favor sellers over buyers, because sellers normally “fire the last shot” – i.e., send the last form. |
In the law of [[contracts]], under the '''last shot rule''', a party implicitly assented to and thereby accepted a [[counter-offer]] by conduct indicating lack of objection to it. In addition to being based on a questionable notion of implied assent, the last shot rule tended in practice to favor sellers over buyers, because sellers normally “fire the last shot” – i.e., send the last form. |
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==See also== |
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* [[Offer and acceptance#Battle of the forms|Battle of the forms]] |
* [[Offer and acceptance#Battle of the forms|Battle of the forms]] |
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* [[Offer and acceptance]] |
* [[Offer and acceptance]] |
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Revision as of 18:57, 3 May 2012
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In the law of contracts, under the last shot rule, a party implicitly assented to and thereby accepted a counter-offer by conduct indicating lack of objection to it. In addition to being based on a questionable notion of implied assent, the last shot rule tended in practice to favor sellers over buyers, because sellers normally “fire the last shot” – i.e., send the last form.
See also
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