4 ms·
This is classic offer and acceptance in contract law. If you did indeed offer, in writing, $50k for that person's house in something that wasn't a joke offer, a
by site-packages1 4y ago
This is classic offer and acceptance in contract law. If you did indeed offer, in writing, $50k for that person's house in something that wasn't a joke offer, and then other person accepted for whatever reason before you rescinded the offer, that's a valid contract for sale of something. There may be additional concerns given it's real property and not goods, but the point stands: the owner was presented with an offer, then countered the offer with $50k, and the first party accepted the offer. All in writing. This creates a valid contract.
- sokoloff 4y agoHouses sell all the time after multiple offers and sometimes not at all, even in the presence of a full asking-price offer.
- site-packages1 4y agoIndeed, however an offer by itself doesn't create anything binding. One of the other critical pieces is the acceptance of that offer. Otherwise we'd have situations where someone was forced to sell their house simply for being in the presence of an offer!
- notahacker 4y agoThe point is that setting an "asking price" does not in itself constitute a binding offer. Nobody is forced to sell their house to a particular buyer because that buyer emailed back with "accept" in response to an inquiry about the price.
- stjohnswarts 4y agoBut it isn't.