Contracts
In Indiana, an offer to purchase real estate may be withdrawn by the offeror at any time:
AAfter 24 hours
BBefore acceptance is communicated to the offeror✓ Correct
COnly within the first hour after submission
DOnly with the seller's consent
Explanation
An offeror may revoke (withdraw) their offer at any time before the offer is accepted and acceptance is communicated to the offeror. Once acceptance is communicated, the contract is binding.
Related Indiana Contracts Questions
- Mutual assent in contract law means:
- A unilateral contract in Indiana real estate is one where:
- Under an Indiana land contract (contract for deed), the vendee (buyer) receives:
- In Indiana, specific performance is a remedy for breach of a real estate contract that:
- An option contract gives the optionee the:
- A bilateral contract in Indiana real estate is one where:
- Indiana's doctrine of caveat emptor (buyer beware) has been significantly limited in residential real estate by:
- Specific performance as a remedy in a real estate contract means:
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