Asked by Sarenthia Davis on Jun 27, 2024
Verified
If a person offers to hold his offer open for a period of time, he can still revoke it before that time if he changes his mind.
Period of Time
A specific duration or span of time during which events occur or conditions are planned to take place.
Revoke Offer
The withdrawal of a proposal by the offeror before it has been accepted by the offeree, rendering the offer void.
- Familiarize oneself with the critical aspects of acceptance, offer, and communication in contract formulation.
Verified Answer
TK
tegan keeversJun 28, 2024
Final Answer :
True
Explanation :
An offeror can generally revoke an offer at any time before it is accepted, even if they have promised to keep the offer open for a specified period, unless a valid option contract exists that is supported by consideration.
Learning Objectives
- Familiarize oneself with the critical aspects of acceptance, offer, and communication in contract formulation.
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