Asked by Whian Bester on May 14, 2024
Verified
Which of the following offerors is free to revoke his offer?
A) An offeror that agreed to keep an offer open without consideration.
B) An offeror,who is a merchant,agreed in writing to sell goods and gave assurances that the offer would remain open.
C) An offeror of a unilateral contract where the offeree already started performance.
D) An offeror who promised to keep an offer open without consideration,but later changed his mind and the offeree foreseeably and reasonable relied on the offeror's promise.
Unilateral Contract
A unilateral contract is a legally binding agreement where one party promises to do something in return for an act of the other party, who is not legally obligated to act.
Consideration
in contract law, refers to something of value given by both parties to a contract that induces them to enter into the agreement to exchange mutual performances.
Merchant
An individual or company engaged in the business of buying and selling goods or services with the intent of making a profit.
- Explain the conditions under which an offeror can or cannot revoke an offer.
Verified Answer
JD
jaklin dahbarMay 21, 2024
Final Answer :
A
Explanation :
An option contract cannot be revoked if there was an exchange for some valuable consideration.
Learning Objectives
- Explain the conditions under which an offeror can or cannot revoke an offer.