To withdraw a proposition or offer before it has been accepted. 2. This the party making it has a right to do is long as it has not been accepted; for no principle of law or equity can, under these circumstances, require him to persevere in it. 3. The retraction may be express, as when notice is given that the offer is withdrawn; or, tacit as by the death of the offering party, … [Read more...]
RETRACT
TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.