Asked by
Molly Bebber
on Nov 10, 2024
Verified
A letter of revocation takes effect when received by the offeree.
Revocation
The act of officially canceling or withdrawing something, such as a law, right, or offer.
Offeree
An offeree is a person or entity to whom an offer is made, typically in the context of contracting or other legal agreements.
- Learn the critical elements of offer, acceptance, and consideration in the process of contract formation.
Verified Answer
MB
Learning Objectives
- Learn the critical elements of offer, acceptance, and consideration in the process of contract formation.