Tom Rittenhouse wrote:
>
> I've always translated that to "best acceptable offer".
> IMHO, a seller has no requirement to accept any offer, even
> a full price one until he says "sold".
>
Tom
I think that a full price offer completes a morally if not legally binding
contract. The only out the seller would have would be that he has already
agreed a sale to a prior offer or the buyer fails to come up with the
consideration in which case the buyer is in breach. Or Best Offer ( Or
Nearest Offer- ono in UK) has no such bind.
Think of a bartering situation - each offer is just that, an offer, and each
party counter offers until the opposite party says "Yes OK" at which point a
contract is made. If no one says "Yes OK" to an offer then either party can
walk away. An advertised price is an offer to which the other party can say
"Yes" to thus completing the contract.
Peter
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