Clarification on option contract rejection. I'm getting hung up on the reliance exception to option contracts and could really use some clarification on when an option contract is still viable in cases where a party relies on it. If the original offeree offers an option contract to keep the acceptance period open, and then the original offeror rejects the option contract, can the option contract still be upheld if the original offeree relies on the option contract? Or vise-versa???

Sorry if that question was total nonsense, I have finals scrambled-egg brain. 