Cengage Advantage Books: Introduction to Business Law 4th Edition by Timothy Koch, Jeffrey Beatty, Jeffrey Beatty, Susan Samuelson, Susan Samuelson

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Someone offers to sell you a concert ticket for $50, and you reply, "I'll give you $40," The seller refuses to sell at the lower price, and you say, "OK, OK, I'll pay you $50." Clearly, no contract has been formed because you made a counteroffer. If the seller has changed her mind and no longer wants to sell for $50, she doesn't have to. But is this fair If it is all part of the same conversation, should you be able to accept the $50 offer and get the ticket