【Answers】
7 It can be revoked at any time before acceptance An offer can be revoked at any point up until an acceptance has been
made. Once an offer has been revoked, it is incapable of acceptance. Revocation must, however, be effective. It must
therefore be actually received by the offeree, but can be communicated by a third party.
8 Preferential debts, floating charges, unsecured creditors, deferred debts The correct order of payment on liquidation in full
is (1) costs (2) preferential debts (3) floating charges (4) unsecured creditors (5) deferred debts (6) members.
10 Warranties Breach of warranties only entitles the injured party to claim damages, not to repudiate the contract.
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