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In Bank of India v. O. P. Swarnakar, AIR 2003 SC 858, how did the Supreme Court in its judgment of 17…

The Court treated the nationalised bank’s scheme as an invitation to make an offer because the bank reserved its decision on individual applications. An employee’s…

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In Bank of India v. O. P. Swarnakar, AIR 2003 SC 858, how did the Supreme Court in its judgment of 17 December 2002 classify the nationalised bank’s voluntary retirement scheme where the bank retained discretion to accept or reject employees’ applications?

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Answer and explanation

Correct answer D

The Court treated the nationalised bank’s scheme as an invitation to make an offer because the bank reserved its decision on individual applications.

An employee’s application constituted the offer. A contract arose upon the bank’s acceptance.

Option feedback

Option A

The scheme invited applications. Acceptance of an individual application was a later step.

Option B

Applying did not by itself bind the bank, which retained discretion to accept or reject the application.

Option C

Circulating the scheme did not conclude a contract with every eligible employee.

Option D

The scheme invited employees to submit offers, which the bank could then accept or reject.

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