Contract Act, 1872 — Section 6: Revocation how made

6. Revocation how made. A proposal is revoked

(1)by the communication of notice of revocation by the proposer to the other party ;

(2)by the lapse of the time prescribed in such proposal for its acceptance, or, if no time is so prescribed, by the lapse of a reasonable time, without communication of the acceptance ;

(3)by the failure of the acceptor to fulfill a condition precedent to acceptance; or

(4)by the death or insanity of the proposer, if the fact of his death or insanity comes to the knowledge of the acceptor before acceptance.