An offeror can revoke an option contract if the offeror decides that the con?sideration given is inadequate.

Question

Quizplus · Accepted Answer

The offeror cannot revoke an option contract based on a change of mind or a decision that the consideration received is inadequate. Once an option contract has been created, it is a binding agreement between the offeror and the offeree. The offeree has paid for the right to accept or reject the offer, and the offeror cannot unilaterally revoke the contract.

An Offeror Can Revoke an Option Contract If the Offeror