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A related type of revocation occurs when a person loses some form of rank or office. The demotion or removal is sometimes termed revocation. [citation needed] Finally, a person can revoke a grant of representation. For example, a person may sign a power of attorney, then later revoke it. The previous grantee then loses the right make decisions ...
An option contract is a type of contract that protects an offeree from an offeror's ability to revoke their offer to engage in a contract. Under the common law, consideration for the option contract is required as it is still a form of contract, cf. Restatement (Second) of Contracts § 87(1).
An offeror may revoke an offer before it has been accepted, but the revocation must be communicated to the offeree (although not necessarily by the offeror [22]). If the offer was made to the entire world, such as in Carlill's case, [11] the revocation must take a form that is similar to the
An acceptance is an agreement, by express act or implied from conduct, to the terms of an offer, including the prescribed manner of acceptance, so that an enforceable contract is formed. [ 2 ] In what is known as a battle of the forms , when the process of offer and acceptance is not followed, it is still possible to have an enforceable ...
Without revocation, an attacker could exploit such a compromised or misissued certificate until expiry. Hence, revocation is an important part of a public key infrastructure. Revocation is performed by the issuing certificate authority, which produces a cryptographically authenticated statement of revocation.
Day 2: A decides to revoke the offer and puts a letter in the mail to B revoking the offer. Day 3: B puts a letter accepting the offer in the mail. Day 4: B receives A's revocation letter. The letter of revocation can be effective only when received, that is Day 4. However, a contract was formed on Day 3 when the letter of acceptance was posted.
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