Termination of Offer Flashcards
When is a valid offer invalidated?
If a valid offer is terminated any time BEFORE acceptance, the offer is invalidated.
Can an invalidated offer be revived?
A terminated offer CANNOT be accepted or revived unless a new offer is made.
How can the offeror directly revoke an offer?
The offeror revokes the offer by express communication to the offeree.
What is a constructive revocation?
The offeree learns that the offeror has taken an action that is absolutely inconsistent with a continuing ability to contract.
How can the offeree terminate an offer?
The offeree rejects the offer by express communication to the offeror.
What happens if the offeror dies before acceptance?
An offer is terminated if the offeror dies or otherwise becomes incapacitated (only terminates the offer, not a previously valid contract)
Can an offer be revoked via time passage?
An offer can be revoked if a reasonable amount of time passes (usually requires weeks, not days)
How can the subject matter of the contract terminate an offer?
An offer will be terminated if the subject matter of the offer becomes illegal or is destroyed.
