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 lapsed when Rahul agreed to purchase Brown's canoe.

Question

Quizplus · Accepted Answer

Rahul's offer to buy Jones' canoe lapsed when he made an agreement to purchase Brown's canoe. This is because Jones did not accept the offer immediately, and by the time he did, Rahul had already entered into a contract with Brown. Therefore, Rahul was no longer free to accept Jones' offer.

Rahul Met Jones at a Street Corner and Made a Verbal