Asked by Chris Milano on Jun 17, 2024
Verified
Distinguish between a rejection of an offer and a revocation of an offer.
Rejection of Offer
The act of declining or turning down a proposal or offer.
Revocation of Offer
The withdrawal of a proposal by an offeror so that it can no longer be accepted to form a binding contract.
- Elucidate the methods by which an offer may be concluded and its repercussions on prospective contracts.
Verified Answer
JS
Julia SmerlingJun 23, 2024
Final Answer :
Revocation of an offer is the cancellation of an offer by an offeror. The rejection of an offer is simply the refusal to accept an offer or the manifestation of unwillingness to accept. A rejection is done by the offeree.
Learning Objectives
- Elucidate the methods by which an offer may be concluded and its repercussions on prospective contracts.