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27 August, 20:10

On Monday, Mick puts an offer in the mail to Sheri to sell his guitar for $50. Monday night when jamming with his buddies, he decides he will really miss his old guitar and has second thoughts about selling it. Tuesday morning he puts a revocation in the mail informing Sheri he has changed his mind and the guitar is no longer for sale. The revocation is effective on Tuesday morning.

True / False.

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  1. 27 August, 20:33
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    False.

    Explanation:

    Revocation is a term that is used to describe the withdrawal of an offer by the person who is making the offer, in other words, the offeror.

    A revocation will take effect when it is known to the person that the offer was made to, in other words, the offeree.

    In the scenario presented above, Mick's revocation will not take effect on Tuesday if Sheri did not receive the revocation that same day. This means that the revocation will only take effect when Sheri knows of it.
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