How can an offeror revoke an offer?
What will be an ideal response?
Under the common law, an offeror may revoke (i.e., withdraw) an offer any time prior to its acceptance by the offeree. Generally, an offer can be so revoked even if the offeror promised to keep the offer open for a longer time. The revocation may be communicated to the offeree by the offeror or by a third party and made by 1. the offeror's express statement or 2. an act of the offeror that is inconsistent with the offer. Generally, a revocation of an offer is not effective until it is actually received by the offeree.
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Broker Davis has had a house listed for sale for nine months without selling it. He knows that the building needs major structural repairs, and he has listed it at 10% above its fair market value. He runs an advertisement in a newspaper that says, "Three bedroom, Victorian. You won't believe the price! Move right in. Davis - 234-5678." This advertisement is bad because:
A: It is unethical to advertise a property that is over-priced; B: If someone buys the house on the basis of the advertisement, the publisher could be held liable; C: Since Davis knows that the property needs major repairs, it is deceptive and misleading; D: It doesn't tell the asking price as required by Regulation Z.
As soon as a crisis hits, companies should set up a news center for company representatives and the media. Best practices for the news center will include all of the following except
A) releasing contact information for everyone involved. B) having trained personnel on site around the clock. C) directing incoming inquires to a designated spokesperson. D) providing complete information packets to the media as soon as possible. E) issuing frequent updates.