BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Revocation of Proposal. The party who has made the proposal can withdraw the proposal any time before the communication of acceptance is complete as against the proposer.

Detailed explanation-2: -(i) Withdrawal of an offer can only be made before or at the same time as arrival of an offer; while revocation takes place at the time when an offer has already reached the offeree but this party has not yet despatched an acceptance.

Detailed explanation-3: -Revocation is an annulment or cancellation of a statement or agreement. In the context of contracts, revocation may refer to the offeror canceling an offer.

Detailed explanation-4: -A proposal may be revoked at any time before the communication of its acceptance is complete as against the proposer, but not afterwards. An acceptance may be revoked at any time before the communication of the acceptance is complete as against the acceptor, but not afterwards.

Detailed explanation-5: -Valid Revocation of Offer If an offer has been made, the offering party has a right to withdraw it up to formal acceptance by the offeree. Revocation basically serves as formal, legally verifiable notice that a withdrawal was made, and it’s valid so long as it is communicated to the offeree before they accept.