Contracts
A buyer in Wyoming submits an offer to purchase a home. Before the seller responds, the buyer wants to withdraw. Under contract law, the buyer may:
ANot withdraw because the offer is binding on both parties
BWithdraw the offer at any time before the seller's acceptance is communicated✓ Correct
COnly withdraw if the seller agrees
DWithdraw only within 24 hours of submitting the offer
Explanation
An offer may be revoked at any time before acceptance is communicated to the offeror. Once acceptance is communicated, a binding contract is formed and the offer can no longer be revoked.
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