Asked by Savannah Calkins on May 08, 2024
Verified
Even though a person promises to hold an offer open for a specified period of time, the offeror can revoke that offer before that time if he feels like it.
Specified Period
A set timeframe or duration that is explicitly stated or agreed upon.
Revoke Offer
The withdrawal of an offer by the offeror before it is accepted by the offeree, rendering the offer void.
- Acquire knowledge about the importance and consequences of acceptance, offer, and communication in the formation of contracts.
Verified Answer
SS
Shamli SheemarMay 11, 2024
Final Answer :
True
Explanation :
In general contract law, unless the offer is made irrevocable by a separate option contract or under the Uniform Commercial Code (UCC) for the sale of goods, an offeror can revoke the offer at any time before acceptance, even if they have promised to keep the offer open for a specified period.
Learning Objectives
- Acquire knowledge about the importance and consequences of acceptance, offer, and communication in the formation of contracts.