Read the clause below and fill in the gaps below with the correct forms of the following words:
lapse
revoke
counter-offer
reject

An offeror may withdraw an offer before it has been accepted, but the (1 p.) must be communicated to the offeree, although not necessarily by the offeror.

An offer can be terminated on the grounds of (1 p.) on the part of the offeree, that is if the offeree does not accept the terms of the offer.

Generally death (or incapacity) of the offeror terminates the offer, i.e. the offer (1 p.)

A mere inquiry (about terms of an offer) is not a (1 p.) .and leaves the offer intact.