Examlex
Which statement is correct?
Verbal Agreement
An agreement made by spoken words which may be legally binding, though often harder to prove than written agreements.
Revocation
Withdrawal of an offer before acceptance (must be communicated to the offeree).
Counter-Offer
A proposal made in response to an original offer, differing in terms and thereby rejecting the original offer.
Offeror
The party in a contract negotiation who presents the offer to enter into an agreement.
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