Indian Contract Act Section 5 — Revocation of proposals and acceptances
CHAPTER I OF THE COMMUNICATION, ACCEPTANCE AND REVOCATION OF PROPOSALS
Commercial / Corporate
Summary
A proposal can be revoked at any time before the communication of its acceptance is complete as against the proposer, but not after that point. In other words, the person making the proposal can take it back only until the moment when the acceptance has become fully communicated to them; once that communication is complete, the proposal can no longer be revoked.
An acceptance can be revoked at any time before the communication of the acceptance is complete as against the acceptor, but not after that point. This means the person accepting the proposal can withdraw their acceptance only until the moment when the acceptance has become fully communicated to them; once that communication is complete, the acceptance can no longer be revoked.
Official Text
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. Illustration