Option Contract Withdrawal Rules

Summary

An option contract supported by consideration is irrevocable during the option period, meaning the offer cannot be withdrawn before it expires, regardless of notice. In the Philippines, minors can enter into contracts for necessities such as food, and these contracts are generally valid and binding.

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Are u sure
Yes, I am sure. When an option contract is supported by consideration, it creates an irrevocable offer for the duration of the option period. Geraldine cannot withdraw the offer before the option period expires, regardless of notice.
Which of the following is the best answer: Teresa, a 12 year old minor, purchased a Cheeseburger Meal from McDonalds. Her father is questioning the status of the transaction. - The father is correct since the contract must be in writing. - The father is net correct since Teresa misrepresented herself. - The father is correct since Teresa is obviously a minor at 12 years old. - The father is not correct since food is a necessity.
The best answer is:
- The father is not correct since food is a necessity.
In the Philippines, a minor can enter into a contract for necessities like food, and such contracts are generally considered valid and binding.
Are u sure
Case Rating: *
Yes, I am sure. In the Philippines, minors can enter into contracts for necessities like food. Such contracts are generally valid and binding.
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