An option contract, not supported by a valuable consideration, may be revoked at any time by the optionor signifying his intention to do so, if the optionee has knowledge of such act prior to his acceptance.30

The expiration of the time limit when expressly fixed by the option contract terminates the right of the optionee to elect, or the expiration of a reasonable time, when no time is expressly specified.31

When an offer is made for a time limited in the offer itself, no acceptance afterwards will make it binding. Any offer without consideration may be withdrawn at any time before acceptance providing the intention to withdraw is communicated to

26. Saraceno v. Carrano, 92 Conn. 563, 103 Atl. 631; Larmon v. Jor-don, 56 111. 204; Kellow v. Jory, 141 Pa. St. 144, 21 Atl. 522; Hanly v. Watterson, 39 W. Va. 214, 19 S. E. 536.

27. Houghwout v. Boisaubin, 18 N. J. Eq. 315.

28. Cummings v. Lake Realty Co., 86 Wise. 382, 57 N. W. 431.

29. Breen v. Mayne, 141 la. 399, 118 N. W. 441; Smith & Fleek's

Apps. 69 Pa. St. 474; Boston R. R. v. Rose, 194 Mass. 142, 80 N. E. 498; Horgan v. Russell, 24 N. D. 490, 140 N. W. 99, 43 L. R. A. 105 Atl. 486.

30. Bower v. McCarthy, 85 Mich. 26, 48 N. W. 155.

31. Stewart v. Gardner, 152 Ky. 120, 153 S. W. 3; Mossie v. Cyrus, 61 Ore. 17, 119 Pac. 485.

the optionee prior to his acceptance, and an offer which in its terms limits the time of acceptance is withdrawn by expiration of the time.32

If the optionee abandons his rights under the option before the expiration of the time limit, the optionor has a right to consider the option contract ended,33 and thereafter the optionee may not exercise his right to purchase.34 Can claim no damages arising out of the option,35 and is estopped to ask for specific performance.36

The parties to an option contract may discharge their old contract by substittuting a new one,37 or by a mutual rescission, but a request by one of the parties to the option for an alteration or modification of an accepted option is not a breach thereof giving a right of rescission or an action thereon.38 Also the offer of a lesser price for land by the optionee is not a refusal to take at the option price so as to terminate the option,39 and an option for the purchase of land was not withdrawn by giving a second option to another party, which did not bind the optionor to convey except upon the expiration of any prior option that might exist.40