Section 509
Offer Or Acceptance May Be Revoked
(1) The offerer may revoke
his or her offer through a notice.
Provided that, if the offerer has received from the offeree a
notice to the effect that he or she has accepted the offer before
receiving a notice of revocation of the offer, such an offer shall not
be revoked.
(2) The offeree may revoke his or her acceptance by a notice.
Provided that if the offerer has already received the notice of
acceptance before receiving the notice of its revocation, such an
acceptance shall not be revoked
(3) The person who has sent a notice expressing his or her
refusal of the offer may again send a notice expressing his or her
acceptance to the offer.
Provided that, if the notice of refusal out of the notices of
refusal or acceptance reaches first, the contract shall not be deemed
to have been concluded, and if the notice of acceptance reaches
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first, the contract shall be deemed to be concluded.
(4) If the notice under sub-section (1) has been sent after
sending the offer, the notice under sub-section (2) has been sent
after sending acceptance or the notice under sub-section (3) has
been sent after sending a notice of refusal and the concerned person
receives such notices at the same time, the contract shall not be
deemed to have been concluded.
(5) If the offeree sends an acceptance with condition or
with alteration to the offer sent by the offerer, the offeree shall be
deemed to after a counter offer.