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 the offer to Oberon assuming Keegan's revocation was

ineffective?

The offer was probably still open the next day because a reasonable length of time would not have expired.

By operation of law, it would still have been open because it would not have terminated until midnight on the day

after it was made.

By operation of law, it would have terminated at midnight on the day it was made.

The offer would have terminated because Oberon did not provide any consideration to leave it open.