Which of the following is an accepted means of terminating an offer?

Revocation is a well-established and accepted means of terminating an offer in contract law. It occurs when the offeror takes back their offer before it has been accepted by the offeree. This can happen at any time before acceptance, and the offeror is typically allowed to revoke the offer unless it has been made irrevocable through some form of consideration or a firm offer.

Understanding how revocation works is crucial because it highlights the principle that an offer is not binding until it is accepted. The ability to revoke an offer ensures that the offeror retains control over their offer until it has been formally accepted. This termination method emphasizes the dynamic nature of contract negotiations, where offers can change, and parties have the right to withdraw from discussions.

In this context, the other choices do not represent means of terminating an offer. Affirmation refers to confirming the acceptance of an offer or the terms of an agreement. Notification could involve communication between parties but does not inherently signify the termination of an offer. Agreement typically leads to the formation of a contract rather than its termination.