BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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suspended
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revoked
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expired
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terminated
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Detailed explanation-1: -If an offeree clearly rejects the offer, the offer is termed: suspended.
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: -Offer Termination in Contracts In the case of termination of an offer, the contract was not fully formed. Termination of an offer ends the power of the offeror to perform. A termination of offer can only be terminated prior to the offeree accepting it. It can happen by one of the party’s actions or operation of law.
Detailed explanation-4: -Offers may be terminated in any one of the following ways: Revocation of the offer by the offeror; counteroffer by offeree; rejection of offer by offeree; lapse of time; death or disability of either party; or performance of the contract becomes illegal after the offer is made.