Falconer v. Mazess

403 Pa. 165, 168 A.2d 558 (1961)

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Nature of the Case

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Facts

P lost his rights in interstate commerce for his trucking company by a cease and desist order issued by the Interstate Commerce Commission. P then sought to buy the stock of a corporation which owned the desired rights. Bair was the owner of the stock of Marine Forwarding Co., Inc. which had a certificate of public convenience giving it the rights that P desired to acquire. P then offered to buy Bair's stock conditioned on that offer being accepted in writing within five days from August 13, 1953, and the final escrow for the transaction to be completed by August 28, 1953. A deposit of $1,000 was forwarded with the offer and held by Mazess until acceptance or rejection was received. Bair accepted by letter on August 17, but it was not mailed until August 18 and was not delivered to P until August 20th at which time Bair sent telegrams to Bair and Mazess that he was withdrawing his offer of purchase. During trial, the judge ruled that D's offer was not accepted until it was actually delivered to P. P was awarded the judgment and D appealed.