Question

The president of Deal Corporation wrote to Boyd, offering to sell the Deal factory for $300,000. The offer was sent by Deal on June 5 and was received by Boyd on June 9. The offer stated it would remain open until December 20. The offer:

Answer 1

Answer:

is valid until December 20, but it can be revoked by Deal any time before that date unless Boyd has accepted it.

Explanation:

An offer can be revoked by the offeror at any time as long as the following two conditions exist:

1. the offeror notifies the offeree that the offer is being revoked
2. the offeree has not yet accepted the offer