DESTROYING THE OFFER

Question 1

WAYS TO DESTROY AN OFFER

Answer 1

Rejection, Revocation, Lapse, Death or incapacity

Question 2

Rejection

Answer 2

An offeree’s power of acceptance is terminated by his rejection of the offer, unless the offeror has manifested a contrary intention. A manifestation not accept the offer is rejection unless the offeree manifests intention to take it under further advisement.

Question 3

Revocation

Answer 3

(Direct): A manifestation of intention not to enter into a K. (Indirect): Action inconsistent with an intention to enter into a proposed K AND the offeree requires reliable information to that effect.

Question 4

Lapse

Answer 4

The length of time an offer shall continue is that, if no time is stated, then the inquiry is to a reasonable time.

Question 5

Death or Incapacity

Answer 5

Offer dies with the offeror or when he is deprived of legal capacity to enter into a K.