Ramsgate Victoria Hotel v Montefiore (1866) LR 1 Ex 109
The defendant, Mr Montefiore, offered to purchase shares in the claimant’s company. The claimant only responded and accepted the defendant’s offer after 6 months, at which time the value of the shares had fallen. The defendant refused to go through with the purchase even though he had not withdrawn the offer.
1. Whether or not the offer from Montefiore was still available for acceptance six months after it was made.
1. The offer was no longer open for acceptance after six months.
The court ruled that a reasonable period of time had passed after the offer was made and could no longer be accepted. The court ruled that an offer must be accepted within a reasonable time for the acceptance to be valid. What constitutes reasonable time would depend on the case.