What is an event that can terminate an offer?

The termination of an offer can occur through several events, and one significant event is the death or insanity of either the offeree or the offeror. When the offeror passes away or becomes incapacitated, the legal ability to enforce the offer is essentially nullified. This is because offers are typically personal agreements that rely on the competence and intent of the parties involved. If either party is no longer capable of understanding the terms or engaging in a contract due to death or insanity, the offer cannot be validly accepted or enforced.

In contrast, the change of mind by the offeree simply indicates a shift in interest, but it does not automatically terminate the offer unless communicated to the offeror. Acceptance by another party can complicate the status of an offer, especially if the original offer has not been revoked, but it does not inherently terminate the original offer. Lastly, a delay in response from the offeree does not terminate the offer itself; rather, it can lead to complications such as the offer expiring after a reasonable time, depending on the circumstances. Therefore, the death or insanity of either party is a definitive event that directly terminates the offer.