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Magin Offered to Sell Richards Some Secondhand College Textbooks for $75

Question 49

Essay

Magin offered to sell Richards some secondhand college textbooks for $75. Richards wasn't sure he wanted the books. Magin then agreed to keep the offer open for five days if Richards would give him $5. Can Magin legally withdraw this offer before the five days are up?

Correct Answer:

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No. Magin created an option contract whe...

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