Contracts
A buyer makes an offer to purchase a property. Before the seller responds, the buyer calls to withdraw the offer. The withdrawal is:
AInvalid because the offer was submitted in writing
BValid, because an offer can be revoked before acceptance✓ Correct
CInvalid, because the seller has 24 hours to accept or reject
DValid only if the buyer pays a cancellation fee
Explanation
An offer can be revoked by the offeror at any time before it is accepted. Once the seller communicates acceptance, a binding contract is formed and the offer cannot be revoked.
Related Alaska Contracts Questions
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