Revocation of contract CL- Dickerson- can revoke even if has expressly promised offeree to keep it open;

Two modern exceptions: option and firm offer

If offer is to multiple offerors, notice of termination or functional equivalent works;

special subcontractor rule

Option contract exception to offeror's right of free revocation of offers. Requires: 1) an offer; 2) a subsidiary promise; 3) consideration/similar to keep sub promise open

Firm offer UCC- 1.) made by merchant 2.) in signed writing from merchant 3) expressly states that i]t will ]be held open

Consideration not required

Last either length specified or for a reasonable time, but an max of 3 months either way (can do an option instead, though)

Rejection by offeree 1) outright rejection 2) counteroffer (unless mere inquiry) 3) CL nonconforming acceptance (mirror image or nonconforming shipment)

Offer revival offeror is master of offer and can revive after rejection by restating the offer or giving the offeree more time to make a decision

UNILATERAL CONTRACT can be accepted only through performance; where way of acceptance not specified, offeree can choose;

CL- offeror can reject at any time before full performance;

Modern- partial performance creates an option contract and can't revoke (can revoke if just mere preparations); usually rare- reward real estate broker

offeree can abandon performance at any time

BILATERAL CONTRACT can be accepted only though promise; parties bound by contract terms as soon as mutual promises are exchanged; where way of acceptance not specified, offeree can choose

Acceptance under CL (1) mirror image rule- acceptance must mirror offer;

(2) acceptance must be communicated to the offeror;

Communication of Acceptance MAKER IS THE MASTER;

he can stipulate how acceptance must be made;

if offer is silent, offeree may use any reasonable means