Can an offer be revoked after acceptance

Offers may be terminated in any one of the following ways: Revocation of the offer by the offeror; counteroffer by offeree; rejection of offer by offeree; lapse of time;death or disability of either party; or performance of the contract becomes illegal after the offer is made.

The general rule is that the revocation is effective only when it is made known to the offeree.

Revocation of offer case law

Until it is communicated to the offeree, directly or indirectly, the offeree has reason to believe that there still is an offer that may be accepted. The offeree may rely on this belief. If the offeror seeks to revoke the offer, but the offeree accepts the offer before notice of the revocation, a valid contract is created.

A conditional acceptance is a counteroffer.

For example, if Jones accepts the $10,000.00 price, but adds a term by stating that new tires must be put on the car, this is a conditional acceptance and therefore a counteroffer.

A rejection terminates an offer. A rejection is an offeree’s communication that an offer is unacceptable.

When an o

when is an offer considered revoked

an offer is terminated when quizlet