Question

Seller offers to sell her home to a purchaser for $70,000.00. The purchaser responds that she will buy the home for $60,000.00. The seller refuses the purchaser’s offer to buy for $60,000.00. The purchaser then, after that refusal, offers to buy the home for $70,000.00. At this time, what is the legal relationship of the parties

Answer 1

The answer is: The buyer made an offer to purchase the home for $70,000

Step-by-step explanation:

When the seller offered to sell his home for $70K, but the buyer only offered $60K, the original offer was discarded, so no legal relationship was established.

When the buyer later offers to buy the home for $70K, a new offer is made creating a legal relationship only if the selling party accepts the offer.