A seller always retains the right to refuse supply until there is an exchange of cash! Whoever makes an offer can revoke it as long as it hasn't yet been accepted.You have the right to withdraw from this Contract within a period of 14 calendar days without having to provide justification. Exiting a contract without penalty requires a careful review of the contract terms and a clear understanding of your legal rights and options. Is it illegal to rescind a job offer under New Jersey employment law? The answer is that sometimes, under certain conditions, it certainly can be. Acceptance in contract law is when a person agrees to the terms of an offer without any changes. This was a standard contract (not an ASIS) which meant he could not cancel once executed. Execution though is the key. Overview of Truth in Renting Act. 1.