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Question:

Charles wanted to offer to purchase Tony’s home and engaged Mary to be his agent. When the offer was delivered to Tony, it had a provision limiting the time for acceptance to 48 hours. Tony rejected the offer. After thinking about it for 36 hours, Tony can:

A It was terminated when Tony first rejected the offer
Explaination

A rejected offer does not have to be formally withdrawn or revoked, and automatically terminates an offer. An offer may also be terminated by an expiration date, communication or notice of revocation before acceptance, accepted counteroffer, or death or insanity of either the offeror or the offeree before acceptance.