Legal Question in Civil Litigation in Kentucky
length of time an offer is deemed open
Situation where an offer to resolve a dispute was made--name removed--No counter demand was made and the offer was not accepted--name removed--How long would the offerror be bound to honor the offer made--name removed-- The dispute involved more than $10,000 and the offer was made in writing--name removed--What is the legal basis for any timelimit?
2 Answers from Attorneys
Re: length of time an offer is deemed open
Offhand, there is no statutory time for an offer to be open. That makes the time for refusal open to the parties. If not made, a reasonable time.
Re: length of time an offer is deemed open
An offer in writing is valid until such time as (1) it is withdrawn by the offeror,or(2) it is accepted or rejected by the offeree; unless, of course, the written offer specifies a time limit.
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