25.
The answer is: E
Explanation
The least accurate statement regarding an offer under contract law in India is E: An offer lapses upon acceptance of the terms of the offer by a third party.
This statement is incorrect, because an offer cannot be accepted by a third party who is not the intended recipient of the offer. According to the doctrine of privity of contract, a contract can only confer rights and obligations on the parties who have entered into it, and not on any third party who has no interest or involvement in the contract. Therefore, an offer made by one person to another person cannot be accepted by a third person, and such acceptance will have no legal effect. The offer will not lapse by such acceptance, but will remain open for acceptance by the original offeree, unless it is revoked or lapsed by other means.
The other statements are accurate regarding an offer under contract law in India, as explained below:
A: An offer is not valid unless such offer has been communicated to the other party. This statement is correct, because communication of an offer is essential for its validity. According to Section 4 of the Indian Contract Act, 1872, the communication of an offer is complete when it comes to the knowledge of the person to whom it is made. Until then, there is no offer that can be accepted. The person making the offer must express his willingness to enter into a contract in clear and certain terms, and convey it to the other person by any means, such as words, writing, gestures, or conduct.
B: An offer is complete as against an acceptor when the offeror puts it in a mode of transmission outside the control of the offeror. This statement is correct, because it follows from Section 4 of the Indian Contract Act, 1872, which states that the communication of an offer is complete as against the proposer when it is put in a course of transmission to him so as to be out of the power of the proposer. This means that once the offeror sends his offer by any mode of transmission that is beyond his control, such as post, telegram, email, etc., he cannot revoke or withdraw his offer. The offer becomes binding on him as soon as he dispatches it.
C: An offer lapses when a counter offer is made. This statement is correct, because a counter offer amounts to a rejection of the original offer and a new proposal from the offeree. According to Section 7 of the Indian Contract Act, 1872, in order to convert a proposal into a promise, the acceptance must be absolute and unqualified. If the offeree makes any changes or modifications in the terms of the offer and sends it back to the offeror, he is not accepting but making a counter offer. This implies that he is not willing to accept the original offer on its terms, and therefore he terminates it. The original offer cannot be revived or accepted after making a counter offer.
D: An offer lapses by revocation, as long as such offer is revoked prior to acceptance of such offer. This statement is correct, because revocation is one of the ways by which an offer can lapse or cease to exist. According to Section 5 of the Indian Contract Act, 1872, a proposal may be revoked at any time before the communication of its acceptance is complete as against the proposer, but not afterwards. This means that the offeror can withdraw his offer before it is accepted by the offeree, but not after he has accepted it and communicated his acceptance to him. The revocation must also be communicated to the offeree in order to be effective.