See The New York Statute on Irrevocable Offers, 43 Colum.
Eli Lilly said today its animal health division, Elanco, has made an irrevocable, unconditional offer to acquire the animal health business of Johnson & Johnson's Janssen Pharmaceutica.
Basically, if a company is found to be using FRAND-style patented technology in its products, the court can only allow that company a FRAND defense if it's made "an irrevocable, binding offer" to license the patents on FRAND terms and also post a bond for ongoing royalties, reports FOSS Patents.
The Sixth Interim Report of the English Law Revision Commission (1937) has expressed itself (p. 22) in favor of making the firm offer irrevocable even if orally made, provided it contains a definite time limit.
The German system provides this protection by making the offer in principle irrevocable.
It is a pre-condition that Kazakhmys delivers an irrevocable undertaking to accept the offer (subject to Kazakhmys shareholder approval) in respect of [its stake in ENRC]." The consortium is offering 172.3p in cash plus 0.23 Kazakhmys shares.
Such offer will be irrevocable until the day that is 120 days from the Termination Date.
Gen. Jamee Jordan Patterson, who represents the state agencies, contends the YMCA was under no obligation to obtain permission from property owners because the easement offer is an "irrevocable license" for public access.
Irrevocable changes are underway.
Irrevocable means just that: The euro cannot be turned back.
(On the other hand, the Uniform Commercial Code, which has been adopted everywhere in the United States except in parts of Louisiana, provides that a firm offer made by a merchant is irrevocable even though the other party has given no consideration).
