Which of the following offer terminators is by action of the parties?

Death or incompetence of the offeror or offeree

Counter-offer

Lapse of Time

Destruction of the specific subject matter of the offer.

John has a house in Pasadena that he wants to sell.He talks to Bill and they make a deal.They agree that Bill gives $10,000 to John today and John will sell his house to Bill if Bill wants to buy it within the next two years for $1,000,000.A year goes by and property value skyrocket and the property is worth $2,000,000.John calls Bill and says "I want to buy that property we talked about for the $1,000,000."Does Bill have to sell and why?

Yes, because the offer was not terminated by destruction of the subject matter.

No, because an offer is revocable at any time

No, because the property is worth more now than a year ago.

Yes, because it was a binding option contract

Revocation of an offer take effect

No answer text provided.

upon receipt

upon dispatch