LAW 505-002 – Contracts I

Restatement Second of Contracts § 37


Termination of Power of Acceptance Under Option Contract

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Notwithstanding §§ 38-49, the power of acceptance under an option contract is not terminated by rejection or counter-offer, by revocation, or by death or incapacity of the offeror, unless the requirements are met for the discharge of a contractual duty.