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. The contract between Rahul and Brown automatically rescinded the offer which Rahul had made to Jones.

Question

Quizplus · Accepted Answer

The contract between Rahul and Brown does not automatically rescind the offer Rahul made to Jones. Rahul's offer to Jones was still open until Rahul explicitly revoked it or until Jones was informed of Rahul's deal with Brown, which could serve as an implied revocation.

Rahul Met Jones at a Street Corner and Made a Verbal