- Construction of contract — Formation of contract — Interpretation of contract — Termination/unwinding of contract — Validity of contract
This chapter discusses the law on the termination and revocation of offers. An offer may be terminated through lapse of time, the death of the offeror or offeree, the failure of some condition or contingency, by rejection (or counter-offer), and by communication of a revocation of the offer. An offer may be revoked any time prior to its acceptance. Even if an offer is expressed to be open for a stated period of time it can be revoked prior to that time elapsing. Where the offer is a standing offer capable of acceptance from time to time, it may still be revoked as to the future acceptances even though there have been acceptances in the past.
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