Dictionary of Business Terms: revocation
revocation
- recall of authority conferred.
- cancellation of an instrument previously made.
- cancellation of an offer by the offeror, which, if effective, terminates the offeree's power of acceptance.
Dictionary of Real Estate Terms: revocation
revocation
an act of recalling a power of authority conferred, as a revocation of a power of attorney, a license, an agency, etc.
Example: The revocation of Abel's broker's license, caused by his fraudulent acts, prevented him from earning a living in real estate.
