Contracts
In Idaho, what is the legal effect of a buyer revoking an offer after the seller has already accepted it?
AThe contract is void because the buyer changed their mind
BIf acceptance was communicated before revocation, a binding contract exists and the buyer may be in breach✓ Correct
CThe seller must accept the revocation within 24 hours
DThe earnest money is automatically returned to the buyer
Explanation
Once a seller accepts an offer and communicates that acceptance to the buyer, a binding contract is formed. If the buyer then attempts to revoke, they are in breach of contract and may be liable for damages.
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