LAPSE OF OFFER
\lˈaps ɒv ˈɒfə], \lˈaps ɒv ˈɒfə], \l_ˈa_p_s ɒ_v ˈɒ_f_ə]\
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Offer termination, regardless of the reason, other than completion of the deal. An offer lapses due to (1) expiration date reached; (2) a reasonable period has gone by, having no specified expiration date; (3) offeror or the offeree dies before acceptance; (4) operation of law makes the offer illegal or impossible. Unless the offeror and the offeree understand that the offer continues, typically, an orally stated offer ends/lapses.
By Henry Campbell Black
Word of the day
Dopamine Acetyltransferase
- An enzyme that catalyzes the of groups from acetyl-CoA to arylamines. They have wide specificity for aromatic amines, particularly serotonin, and can also catalyze acetyl transfer between arylamines without CoA. EC 2.3.1.5.
Nearby Words
- laps
- lapsable
- lapsana
- lapscourse
- lapse
- LAPSE OF OFFER
- lapse ratio
- lapse,
- lapsed
- lapsed coverage
- lapsed legacy