Rahul met Jones at a street corner and made a verbal offer to buy his canoe for $200. Jones replied that he would "think about it." Rahul nodded affirmatively. The two then went about their separate business. Later in the day, Rahul met Brown, who also had a canoe for sale, and Rahul offered to purchase Brown's canoe for $175. Brown agreed to sell Rahul his canoe. At 4 p.m. the same afternoon, after Rahul and Brown had made their arrangement, Jones telephoned Rahul to say he would accept Rahul's offer to buy his canoe. Rahul's offer to Jones lapsed when Rahul agreed to purchase Brown's canoe.

Question

Quizplus · Accepted Answer

An offer does not automatically lapse when the offeror makes a similar agreement with another party unless the offeror explicitly revokes the original offer.

Rahul Met Jones at a Street Corner and Made a Verbal