Offer Termination Due to Wally's Death

What is the impact of Wally's death on the offer to sell a used forklift to Valu Lumber Outlet?

How does Wally's passing affect the legal capacity to carry out the transaction?

Wally's death would likely result in the termination of the offer to sell the used forklift to Valu Lumber Outlet. In general, an offer made by an individual is a personal and revocable act. If the offeror, in this case, Wally, passes away before the offeree, Valu Lumber Outlet, accepts the offer, the offer is typically considered terminated.

Wally's death would result in the lack of legal capacity to carry out the transaction, as only the living can enter into contractual agreements. Upon Wally's death, his estate would come into play. The estate refers to the collective assets, rights, and obligations left behind by the deceased.

It would be the responsibility of Wally's estate or legal representatives, such as executors or administrators, to handle his affairs. However, since Wally's offer to sell the forklift was not accepted by Valu Lumber Outlet before his death, the offer would likely be considered void.

Valu Lumber Outlet would no longer have the opportunity to accept the offer, as it was contingent upon Wally's continued existence. Therefore, Wally's death would effectively terminate the offer to sell the forklift to Valu Lumber Outlet.