What term refers to the notice given by the offeror to terminate the offer?

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The correct term that refers to the notice given by the offeror to terminate the offer is the communication of revocation. In contract law, revocation occurs when the offeror explicitly informs the offeree that the offer is no longer available. This communication must be clearly conveyed to the offeree for it to be effective.

When an offer is revoked, the offeree cannot accept it after the communication has been made. The principle behind this is to ensure that both parties are aware of the current status of the offer, as it directly impacts their ability to form a binding contract. Effective communication of revocation is a fundamental aspect of the offer and acceptance process in contract law, ensuring that the offeree receives clear notice of the offeror's intention to terminate the offer.

Other terms, such as withdrawal of offer or lapse of offer, may also relate to the withdrawal of an offer. However, these do not specifically capture the act of notifying the offeree of the revocation in the direct manner that "communication of revocation" does. Hence, the emphasis is on clear and direct communication to terminate the offer, making this the most accurate answer.

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