In Waiver principle according to Common law, an offer is presumed revocable unless stated otherwise.

The statement is false because it incorrectly attributes the rule of offer revocability to the "Waiver principle." Under common law, the principle that an offer is revocable by the offeror at any time before acceptance is a fundamental rule of contract formation. The Waiver principle, conversely, is the intentional and voluntary relinquishment of a known right, which typically occurs after a contract has been formed and a right has been established. The question conflates these two distinct legal doctrines, making the entire statement incorrect. The revocability of an offer is not governed by or derived from the principle of waiver.

A. True: This is incorrect because the revocability of an offer is a foundational principle of contract formation, not a component of the Waiver principle.

1. National Contract Management Association. (2019). Contract Management Body of Knowledge (CMBOK) (6th ed.). Section 2.2.1.4, "Termination of an Offer," discusses revocation as a method by which an offeror terminates an offer before acceptance. Section 4.5.2, "Waiver and Release," defines waiver as the intentional relinquishment of a known right under an existing contract, clearly distinguishing it from pre-award contract formation principles.

2. American Law Institute. (1981). Restatement (Second) of Contracts. Section 36, "Methods of Termination of the Power of Acceptance," lists "(c) revocation by the offeror" as a primary method. The concept of waiver is addressed separately in sections like § 84, in the context of promises to perform a duty in spite of non-occurrence of a condition.

3. Legal Information Institute (LII), Cornell Law School. (n.d.). Wex Legal Dictionary. The definitions for "revocation" and "waiver" are provided as distinct legal concepts. Revocation is defined in the context of an offeror's withdrawal of an offer, while waiver is defined as the relinquishment of a known legal right. This distinction confirms the two principles are not related in the manner suggested by the question.