Fact Pattern $7-2$

$$

Keegan buys a new house and offers to sell the current home to Oberon for $$250,000.$ Oberon wants to think about the offer, and Keegan says that is fine. The next day, Mikko, Keegan$$s friend, offers Keegan $$240,000$ for the house. Keegan really likes Mikko more than Oberon and signs a contract to sell the house to Mikko. Later that day Keegan sees Oberon walking up the driveway. Immediately, Keegan opens the window and yells "I revoke the offer on the house" before Oberon says anything. Oberon replies by accepting the offer and expects to purchase the home. Oberon tells Keegan that even though no steps have been taken steps to get a loan, Oberon feels confident that there will be no problem with those matters and that Keegan must consider Oberon a ready, willing, and able buyer.

Refer to Fact Pattern $7-2.$ Which of the following is true regarding whether Keegan$$s attempted revocation was effective?

Group of answer choices

It was effective because Keegan had left the offer open the amount of time required by law regardless of whether the offer could be revoked before Oberon could accept.

It was effective because Keegan issued the revocation before Oberon could accept.

It was ineffective because the amount paid by Mikko was less than the offer to Oberon.

It was ineffective because Keegan attempted the revocation at too early a point in time.