A buyer makes an offer on a South Dakota property. Before the seller accepts, the buyer decides to withdraw. This is an example of:
Correct Answer
B) Revocation of offer
An offer can be revoked (withdrawn) at any time before acceptance. Since the seller had not yet accepted, no contract was formed, and the buyer is free to revoke without liability.
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A buyer submits an offer on a Kentucky property. Before the seller responds, the buyer decides to withdraw. This is an example of: