28-2-512 . How proposal revoked. A proposal is revoked by: (1) the communication of notice of revocation by the proposer to the other party in the manner prescribed by 28-2-501 and 28-2-502 before the other party's acceptance has been communicated to the proposer; (2) the lapse of the time prescribed in the proposal for its acceptance or, if no time is prescribed, the lapse of a reasonable time without communication of the acceptance; (3) the failure of the acceptor to fulfill a condition precedent to acceptance; or (4) the death or serious mental illness of the proposer.
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