Question

A contractual requirement to negotiate the sale of the building in good faith and complete a contract O Merely a solication by Royal Properties for an offer and no enforceable contract untail Royal Royal Properties, Inc., mails a flyer to hundreds of firms, advertising a building for sale. Standard Manufacturing Company responds by saying, "We accept your offer." Between Royal and Standard, there is Properties accepts O A right of first refusal to consider the offer before any others O A valid and enforceable contract for the sale of the building Save Question 7 (5 points) An offeree writes a letter of acceptance with the stipulation that the offeror must lower the selling price by 25% the offer OM P

Answer 1

When a seller advertises a property he/she is inviting potential buyers to negotiate a transaction. The seller cannot be forced to sell to some specific buyer even if they send a letter or email, or call saying that they want to buy the property.

Imagine that a seller sends out hundreds of flyers or puts an ad on a website, he might get dozens of calls or emails from potential buyers, but no buyer has any right over the property until they negotiate the transaction with the seller.