What occurs if the property involved in an offer is destroyed?

What occurs if the property involved in an offer is destroyed?

• A. Counteroffer is voided
• B. Offer is terminated
• C. Parties can renegotiate
• D. Offer remains valid

Answer: (B)

When a property involved in an offer is destroyed, the offer is terminated because the subject matter of the agreement is no longer available or capable of being transferred. In contract law, a valid offer requires that the object of the offer must exist and be capable of fulfillment at the time the offer is accepted. If the property is destroyed, it essentially removes the basis for the offer, leading to its termination. The parties cannot proceed with the transaction since the property no longer exists, making it impossible to execute the terms of the offer. Thus, termination is the appropriate legal outcome in this scenario, affirming the choice that states the offer is indeed terminated when the property is destroyed.

When a property involved in an offer is destroyed, the offer is terminated because the subject matter of the agreement is no longer available or capable of being transferred. In contract law, a valid offer requires that the object of the offer must exist and be capable of fulfillment at the time the offer is accepted. If the property is destroyed, it essentially removes the basis for the offer, leading to its termination. The parties cannot proceed with the transaction since the property no longer exists, making it impossible to execute the terms of the offer. Thus, termination is the appropriate legal outcome in this scenario, affirming the choice that states the offer is indeed terminated when the property is destroyed.