McKenna offers to sell Lori her collection of hand-painted European tiles. Before Lori has a chance to accept, McKenna says, "Sorry, I changed my mind. I'm not going to sell the tiles." McKenna has just made:

a. restitution.

b. a counteroffer.

c. a rejection.

d. a revocation

d. a revocation

Explanation:

evocation of an offer means canceling the offer in its totality before it has been accepted. The offerer withdrawals the offer before the offeree has agreed to the terms stipulated in the offer. The revocation of an offer terminates the offer and the contract negotiation process.

The action of McKenna amounts to revocation. He has changed his mind towards the offer he has made to Lori before it could be accepted. Rejection would occur if Lori's response were a no. A counter-offer is where Lori proposes changes to the terms as stipulated by McKenna.