BACHELOR OF BUSINESS ADMINISTRATION

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BUSINESS ADMINISTRATION

BUSINESS LAW

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
The five ways in which an offer can come to an end include:revocation, rejection, counteroffer, death or insanity, and
A
the expiration of time
B
the expiration of the seal
C
the failure of consideration
D
the coming of end of a fiscal year
Explanation: 

Detailed explanation-1: -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.

Detailed explanation-2: -In conclusion, offer can be terminated by Revocation, Rejection, Lapse of time, Conditional Offer, Operation of law, Death, Acceptance and Illegality.

Detailed explanation-3: -This means that if you make an offer and the other party wants some time to think it through, or makes a counteroffer with changed terms, you can revoke your original offer. Once the other party accepts, however, you’ll have a binding agreement. Revocation must happen before acceptance.

Detailed explanation-4: -Types of Revocation Intentional revocation. Revocation by operation of law. Mutual cancellation by both parties.

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