Spencer v Harding Law Rep. 5 C. P. 561
The defendants, Harding, put out a circular stating that they were accepting tenders for the sale of stock in trade of Eibeck & Co. The claimant, Spencer, submitted a tender to the defendants which was the highest tender, but the defendants refused to sell the stock to the claimant.
1. Whether or not the circular for tenders was an offer or an invitation to treat.
1. It was held that the circular is not an offer but a mere invitation to treat.
The judge held that in the absence of a commitment by the invitor of the tender that they undertake to sell to the highest bidder, an invitation to tender is merely an invitation to treat. The tenders were considered the offers, which the invitor could either accept or reject.