Mike's offer is up for grabs until Maria accepts. She can reject, counteroffer, or Mike can revoke, leaving them with nothing. Option D is the right choice.
Mike's revocation: Mike has the right to revoke his offer any time before Maria accepts it. This is because an offer is not a binding contract until it is accepted. Once revoked, the offer is no longer valid, and Maria cannot accept it to form a contract.
Maria's rejection: Maria has the right to reject Mike's offer at any time before accepting it. Her rejection can be express (e.g., saying "no") or implied (e.g., making a counteroffer). Once she rejects, she is no longer bound by the offer, and Mike cannot force her to accept it.
Maria's counteroffer: When Maria makes a counteroffer, it essentially rejects the original offer and proposes new terms. This terminates Mike's original offer because it's no longer on the table. Mike can either accept the counteroffer, forming a new agreement on the new terms, or reject it, leaving them with no agreement.
Therefore, all three options (A, B, and C) can terminate Mike's offer before Maria accepts it. Option D is the right choice.
Question:-
Mike makes an offer to Maria to purchase her real estate for $80,000. Before Maria accepts the offer, Maria receives another offer. Mike's offer may be terminated by:
A. Mike's revocation
B. Maria's rejection
C. Maria's counteroffer
D. all of the above