Which of the following is true about the expiry time of an offer?

• A. It is not a deadline.
• B. It is the time at which the offer expires if not accepted.
• C. It is the time when the deposit must be paid.
• D. It is the time the seller’s disclosures must be provided.

Answer: (B)

The expiry time is the deadline for acceptance—the moment after which the offer is no longer open for the other party to accept. If the offer isn’t accepted by that time, it terminates and cannot be accepted unless the parties agree to extend or a new offer is issued. The deposit payment deadline and the seller’s disclosure timelines are separate requirements governed by the contract and disclosure rules, not the offer’s expiry. Accepting after the expiry isn’t binding unless the offeror extends the deadline or a new offer is made. Some offers specify a date and time, and acceptance after that point won’t be valid.