What happens when an offer lapses?

When an offer lapses, it becomes void. An offer is an expression of willingness to enter into a contract on certain terms, and it has a lifespan during which it can be accepted by the offeree. Several circumstances can lead to the lapse of an offer. For example, the time for acceptance may simply expire, or the offer may specify a particular period during which it is valid. If that time elapses without acceptance, the offer cannot be accepted and thus becomes void.

Moreover, an offer can also lapse if either party dies or becomes mentally incapacitated, or if the subject matter of the offer becomes illegal or unavailable. Once an offer lapses and becomes void, it cannot be revived or accepted later unless re-offered. This clearly indicates that a lapsed offer does not carry any validity or opportunity for acceptance afterwards.