Asked by
Nuttakorn Manee
on Nov 10, 2024
Verified
Once a person has promised to hold an offer open for a specified period of time, he cannot change his mind.
Revocation
The act of withdrawing, cancelling, or annulling something previously granted, such as a contract, offer, or license.
Offer
A proposal made with the intent that, if accepted, it will become a legally binding agreement.
- Obtain an understanding of the primary aspects of offer, acceptance, and consideration in establishing contracts.
Verified Answer
SA
Learning Objectives
- Obtain an understanding of the primary aspects of offer, acceptance, and consideration in establishing contracts.