Question

Suppose at the end of the meeting that Jack agrees to offer the restaurant buyout, including the non-competition agreement. Prior to Jack and Sophia agreeing to the offer, however, Jack changes his mind. Can he do so?
A. No, once an offer is made, it can never be revoked.
B. No, unless the offer states that it is revocable.
C. Yes, and there is no need to actually communicate the revocation to Hal and Sophia (or their agent) prior to acceptance.
D. Yes, as long as he actually communicates the revocation to Hal and Sophia (or their agent) prior to acceptance.

Answer 1

Answer:

D) Yes, as long as he actually communicates the revocation to Hal and Sophia (or their agent) prior to acceptance.

Explanation:

In contract law, an offer can always be taken back as long as the other party hasn't accepted it yet. In this case, Jack agreed to make an offer about the restaurant and he even included certain details that apparently were important (non-competition agreement), but since Hal and Sophia haven't accepted it yet, Jack can take it back without fear of any claim being made against him. All he has to do is communicate his decision of taking back his offer to either Hal or Sophia, or their agent (if there is one).