- contract law , formation of a contract , contract , offer , acceptance , proposal to contract , offeror , rejection of a an offer , right of withdrawal , withdrawal , law firm in Belgium , law firm in Brussels , acceptance of an offer
The new Belgian contract law pays more attention to the formation of a contract.
How to offer or to accept an offer is now enshrined in the law.
We discuss this new rules in more detail in this article.
When an offer is accepted, a contract is formed.
An offer is a proposal to contract that includes all the essential and substantial elements of the intended contract. It implies the will of the offeror to be bound by the contract as soon as it is accepted.
As a result:
- Once an offer is known, it cannot be waived;
- As long as the offer has not reached the other party, it can be waived;
- An offer to the public cannot be withdrawn or changed once it has been externalised;
- If an offer is made subject to a certain deadline, it is no longer binding after the expiration of the deadline.
Similarly, once an offer is rejected, the offeror will no longer be bound by it.
It is therefore very important to handle an offer with care and not just issue it recklessly.
It is also wise to provide a deadline for an offer. This is important because the offeror remains bound by its offer until the expiration of the deadline or its rejection by the other party.
Any statement or other conduct indicating the acceptance of an offer is considered as a firm acceptance of the offer.
If proposals for amendments, restrictions or other changes to the essential or substantial components are made, the offer will not be deemed to be accepted.
Also for the acceptance, the rule applies that as long as it has not reached the offeror, it can be waived.
3. Right of withdrawal
If the law or the contract provides for a right of withdrawal, the contract may be waived on this basis.
Unless otherwise stipulated by law or contract, such a withdrawal may be made without any charge, compensation or justification.
The right of withdrawal is an element that can be provided for and modulated in the contract and therefore deserves due consideration in the contract formation.
Should you have any questions on this subject, please do not hesitate to contact our specialists at firstname.lastname@example.org or +32 (0)2 747 40 07.