Contracts
A Minnesota seller accepts a buyer's offer and signs the purchase agreement. Before the buyer receives notice of acceptance, the seller wants to withdraw. Under contract law, the seller:
ACan withdraw at any time before the buyer signs
BCan withdraw until the buyer receives notice of acceptance✓ Correct
CCannot withdraw once they have signed
DMust give 24 hours notice to withdraw
Explanation
Under contract law, an offer can be revoked before the offeree (buyer) receives notice of acceptance. Once the buyer receives notice that the seller has accepted, a binding contract is formed.
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