https://www.taxtmi.com/caselaws?id=97301 An offer for shares was held not to have lapsed where letters of acceptance and allotment were posted, share certificates were later sent and received, and the applicants retained them without objection. On those facts, acceptance was treated as duly communicated and a concluded contract arose. The delay in allotment was not regarded as unreasonable in the circumstances, and the applicants' silence and retention of the certificates amounted to acquiescence. The proposal was therefore not treated as revoked by lapse of time, and contractual liability on the share allotment was upheld. en-us Mon, 16 Aug 1954 00:00:00 +0530 Mon, 16 Jan 2012 12:14:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97301 An offer for shares was held not to have lapsed where letters of acceptance and allotment were posted, share certificates were later sent and received, and the applicants retained them without objection. On those facts, acceptance was treated as duly communicated and a concluded contract arose. The delay in allotment was not regarded as unreasonable in the circumstances, and the applicants' silence and retention of the certificates amounted to acquiescence. The proposal was therefore not treated as revoked by lapse of time, and contractual liability on the share allotment was upheld. Case-Laws Companies Law Mon, 16 Aug 1954 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97301