In re Imperial Land Company of Marseilles, ex parte Harris (1872) Law Rep. 7 Ch.
Mr Lewis Harris, of 19 Suffolk Street, Dublin, posted a letter applying for shares in the company.
The company secretary wrote back telling Mr Harris, and that 10% interest would be payable for the price of the shares not yet paid up.
The court held that a contract was complete when the secretary posted the letter accepting the application for shares.
Mellish LJ ascribed the postal rule to the extraordinary and mischievous consequences which would follow if it were held that an offer might be revoked at any time until the letter accepting it had been actually received.