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Which of the following statements about contract revocation is TRUE? It may not relieve the revoking party of contract obligations. It cancels all obligations of both parties. It can only be used if both parties agree to the revocation. It leaves the non-revoking party without any legal remedies.

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Answer:

It may not relieve the revoking party of contract obligations.

Explanation:

Contract revocation can occur in different ways, the most common being when one of the parties revokes the contract. An act of revocation could include recalling, cancelling, or annulling the contract. But the revoking party may not be relieved of it contracts obligations

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