Contracts
A buyer makes an offer on a Mississippi property. Before the seller responds, the buyer withdraws the offer. The seller then attempts to accept. Is there a binding contract?
AYes, because the offer was in writing
BNo, because an offer may be revoked at any time before acceptance is communicated✓ Correct
CYes, because earnest money was submitted
DNo, because the seller did not accept within 24 hours
Explanation
An offeror may revoke an offer any time before acceptance is communicated. Once the buyer validly revoked the offer, the seller's subsequent acceptance cannot create a binding contract.
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