Contracts
In South Dakota, an offer to purchase real estate 'lapses' (expires without acceptance) when:
AThe buyer changes their mind at any point
BThe specified time for acceptance expires, or a reasonable time passes without acceptance if no time is stated✓ Correct
CThe seller receives a higher offer
DThe buyer's agent presents the offer to the seller
Explanation
An offer lapses when the time specified for acceptance expires without acceptance, or when a reasonable time passes without acceptance if no time limit is specified. An expired offer can no longer be accepted by the seller to create a binding contract.
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