REVOCATION OF AN OFFER

Question 1

REVOCATION

Answer 1

An offeror may revoke his offer at any time before acceptance, even
if the offer states that it will remain open for a specified time.
A revocation is effective when it is received by the other person.

Question 2

However, there are two kinds of offers that are irrevocable

Answer 2

Option Contract (Irrevocable Offer)
Merchant’s Firm Offer (Irrevocable Offer)