Contract Formation (REVOCATION) Flashcards
1
Q
How can offers be revoked ?
A
Most offers may be revoked directly at ANY TIME BEFORE ACCEPTANCE through unambiguous words or conduct by the offeror to the offeree indicating an unwillingness or inability to contract.
2
Q
When is a revocation of an offer effective?
A
A revocation of an offer is effective when received.
3
Q
When can an offer be revoked indirectly?
A
An offer can be terminated when communicated indirectly when:
1) the offeror takes definite action inconsistent with an intention to enter into the proposed contract; AND
2) the offeree acquires reliable information to that effect.
