BIZCHINA / Company laws
Contract Law of the People's Republic of China
Updated: 2006-04-17 10:00
Article 15 An invitation for offer is a proposal for requesting other
parties to make offers to the principal. Price forms mailed, public
notices of auction and tender, prospectuses and commercial
advertisements, etc. Are invitations for offer.
Where the contents of a commercial advertisement comply with the terms of
the offer, it may be regarded as an offer.
Article 16 An offer becomes effective when it reaches the offeree. If a
contract is concluded by means of data-telex, and recipient appoints a
specific system to receive the data-telex, the time when the data-telex
enters the system shall be the time of arrival; if no specific system is
appointed, the time when the data-telex first enters any of the
recipient's systems shall be regarded as the time of arrival.
Article 17 An offer may be withdrawn, if the withdrawal notice reaches
the offeree before or at the same time when the offer arrives.
Article 18 An offer may be revoked, if the revocation reaches the offeree
before it has dispatched an acceptance.
Article 19 An offer may not be revoked, if
(1) the offeror indicates a fixed time for acceptance or otherwise
explicitly states that the offer is irrevocable; or
(2) he offeree has reasons to rely on the offer as being irrevocable and
has made preparation for performing the contract.
Article 20 An offer shall be null and void under any of the following
circumstances:
(1) The notice of rejection reaches the offeror;
(2) The offeror revokes its offer in accordance with the law;
(3) The offeree fails to make an acceptance at the time when the time
limit for acceptance expires;
(4) The offeree substantially alters the contents of the offer.
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