8 ms·
No, you go to your neighbor and give them a note that says $500 for the corvette, they write back no way, it's $50k, you write back "done!". They are now obliga
by tedunangst 5y ago
No, you go to your neighbor and give them a note that says $500 for the corvette, they write back no way, it's $50k, you write back "done!". They are now obligated to sell you the car for $50k, even if it's hot rod red and they really like driving it on the weekend.
- bastardoperator 5y agoProve I wrote "done"... case dismissed.
- tedunangst 5y agoI look forward to the Carl Sagan fan winning this trial on that basis.
- erosenbe0 5y agoSure, agreed, but let's say the buyer doesn't accept on the spot in mere seconds. So no agreement is made on how long the counter is good for. Buyer goes home to check his finances. He comes back an hour later and says, "done deal!" The seller seems firmly within their rights to say, "Sorry, my counteroffer was good only for 15 minutes." This might sound silly but market conditions change in minutes and events happen like earthquakes or 9/11. In the absence of an agreed term of expiration I see no reason why a counter is good for any longer than the seller feels like it. Though with written or implied terms it would be totally different (see real estate contract offers for examples). Am I missing something?
- eweise 5y agoStill not definitely an offer since its not clear whether "no way, its $50K" is a committed offer, plus the terms should be more definite.