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Daulia Limited v Four Millbank Nominees Limited (1977) Court of Appeal
The plaintiffs and defendants concurred on the terms for the plaintiffs' acquisition of specific properties in London from the defendants. The defendants verbally assured that they would formalize a contract for the sale provided the plaintiffs visited the defendants' offices by 10:00 AM on 22 December 1976 and presented their portion of the contract together with a banker’s draft for the deposit. The plaintiffs attended with the contract and banker’s draft; nevertheless, the defendants declined to exchange contracts. The defendants' commitment to exchange contracts constituted an offer of a unilateral contract. The plaintiffs had completely executed the actions required for acceptance.
The plaintiffs and defendants concurred on the terms for the plaintiffs' acquisition of specific properties in London from the defendants. The defendants verbally assured that they would formalize a contract for the sale provided the plaintiffs visited the defendants' offices by 10:00 AM on 22 December 1976 and presented their portion of the contract together with a banker’s draft for the deposit. The plaintiffs attended with the contract and banker’s draft; nevertheless, the defendants declined to exchange contracts. The defendants' commitment to exchange contracts constituted an offer of a unilateral contract. The plaintiffs had completely executed the actions required for acceptance.
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