According to the firm offer rule,an offeror is restricted from revoking a contract prior to its acceptance for a period of ________.

Question

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The firm offer rule is a common law rule that applies to offerors who make an offer to a offeree that promises to keep the offer open for a specific period of time. Under the rule, the offeror is prohibited from revoking the offer during this time period. The rule applies for a maximum period of three months, although the parties may agree to a shorter period of time. Therefore, the correct answer is C) 3 months.

According to the Firm Offer Rule,an Offeror Is Restricted from Revoking