Case Summary - Ramsgate Victoria Hotel v Montefiore (1866 CE)
The plaintiff's acceptance of the defendant's offer was not made within a reasonable period in the case of Ramsgate Victoria Hotel v Montefiore (1866 CE). Facts The plaintiff corporation was established on June 6, 1864. The defendant made an offer to buy 50 shares on June 8th. The board allotted the shares on November 23 and wrote to the defendant approving his offer. Decision The defendant was not obligated to purchase the stock. 'The allotment must be made in a reasonable amount of time, and the period between June and November was not reasonable.'
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