BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -The right to withdraw an offer before it is accepted is known as the right of redemption. A clear rejection terminates an offer. If the offeree gives the offer or something of value in return for a promise to keep the offer open, this agreement is itself a binding contract and is called a counteroffer.

Detailed explanation-2: -If an offeree clearly rejects the offer, the offer is said to be terminated. When an offeree changes the offeror’s terms in important ways, the offeree makes a counteroffer.

Detailed explanation-3: -Rejection occurs when one party decides not to accept the offer that was made. Rejection can also mean that one party refused goods offered to them as a part of contractual performance. If the goods offered in a contract do not conform to their contractual description, the buyer has the right to reject those goods.

Detailed explanation-4: -Offerees Rejection-An offer terminates if the offeree receives the offer and rejects it. Once the offeree rejects the offer, she cannot come back later and accept the offer. Any attempt to do so may constitute a new offer to the original offeror.

Detailed explanation-5: -An offer may be terminated through lapse of time, the death of the offeror or offeree, the failure of some condition or contingency, by rejection (or counter-offer), and by communication of a revocation of the offer. An offer may be revoked any time prior to its acceptance.