we learn two exceptions to the general rule that offers may be revoked any time prior to acceptance in this class. what are they called?

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namany7644 namany7644

01-12-2022
Social Studies

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we learn two exceptions to the general rule that offers may be revoked any time prior to acceptance in this class. what are they called?

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vrinda347 vrinda347 · Answer 1 · 2022-12-05T21:25:27-05:00

Two exceptions to the general rule allow offers to be withdrawn at any moment before acceptance are: Option contracts, UCC Rule 2-205, and "Firm Offer (for Sale of Goods by a Merchant in a Signed Writing".

When is acceptance revocable?

A proposal may be withdrawn at any point prior to the whole communication of its acceptance as against the proposer, but not once it has been accepted. Before the acceptance is fully communicated against the acceptor, an acceptance may be reversed at any time, but not after that.

What is the general revocation policy?

Revocation is the act of the offerer withdrawing their offer. Payne v. Cave established the basic rule that an offer may be withdrawn at any point prior to acceptance.

To learn more about Revocation here:

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