Patricia offers to buy a duplex in Oakland for $750,000. The offer states it expires at 5:00 PM on Friday. At 3:00 PM on Friday, Patricia calls her agent and says she wants to revoke her offer. At 4:30 PM, the seller signs and delivers the acceptance to Patricia's agent. Under California law, is there a valid contract?
Correct Answer
C) No, because Patricia revoked her offer before the seller's acceptance was communicated
Under California Civil Code §1586, an offer can be revoked at any time before acceptance is communicated to the offeror (unless supported by consideration as in an option contract). Patricia revoked at 3:00 PM, and the seller did not accept until 4:30 PM, so there was no valid acceptance of a live offer.
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