For instance, an offer letter is sent to the successful bidder of a government contract, in which it is stipulated that that they desposit 50% of the premium/bid prior to XX/XX/2020. The successful bidder communicates its acceptance, but fails to follow through with the deposit. Subsequently, the government body "withdraws" its offer letter.


My question is asked from the perspective of the government body. If the party to whom the offer letter is issued fails to take any step towards fulfilling its end, can it be argued that there was no meaningful acceptance as for all intents and purposes, no part of the offer that was 'accepted' has been performed? Therefore, can the government body 'rescind' the offer and argue that there was no contract to begin with because there was no 'acceptance'?



Is there any principle of contract law regarding failure to take a step towards fulfilling a contract?