Ratio Decidendi
A statement of the minimum price at which a party would sell is not an offer to sell — it is merely a supply of information. An offer requires a clear indication of willingness to be bound on stated terms.
Facts
Harvey telegraphed Facey: 'Will you sell us Bumper Hall Pen? Telegraph lowest cash price.' Facey replied: 'Lowest price for Bumper Hall Pen £900.' Harvey telegraphed: 'We agree to buy Bumper Hall Pen for £900. Please send us your title deed.'
Judgment Summary
The Privy Council held that Facey's telegram was not an offer but merely a statement of information — the lowest price at which he would sell if he decided to sell. There was no contract as Facey had never indicated willingness to sell.
Key Quotes
"The mere statement of the lowest price at which the vendor would sell contains no implied contract to sell at that price to the persons making the inquiry."
— Lord Morris
Subsequent Treatment
Standard authority distinguishing statements of price from offers.