Contracts
A buyer makes an offer to purchase a home. Before the seller accepts the offer, the buyer calls the agent to withdraw the offer. Under contract law:
AThe buyer cannot withdraw the offer once submitted
BThe offer can be revoked any time before acceptance by the seller✓ Correct
CThe buyer must pay a cancellation fee
DThe seller can force the buyer to proceed
Explanation
An offer may be revoked by the offeror at any time prior to acceptance. Once the seller accepts the offer and communicates acceptance to the buyer, a binding contract is formed.
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