Question

Buyers have made an offer to purchase a house for $250,000 including the dining room furniture. The offer will expire at 5:00 p.m. on Sunday. On Thursday, the sellers reply in writing that they will accept the offer of $250,000, but they will not include the dining room furniture. While the buyers are considering the counteroffer on Friday, the sellers change their minds and decide to accept the original offer, dining room furniture to be included, and they state so in writing. What is the current obligation of the buyers?

A. Personal property cannot be included in the Purchase and Sale Agreement.
B. An amendment to the contract is required to make it enforceable.
C. They are legally obligated to withdraw their offer.
D. They are not legallly obligated to purchase the house.

Answer 1

The buyers are not legally obligated to purchase the house. Option D is answer.

Step-by-step explanation:

Initial Offer and Counteroffer:

Buyers offered $250,000 including dining room furniture.

Sellers countered with $250,000 excluding the furniture.

Counteroffer Extinguishes Original Offer:

The sellers' counteroffer effectively cancelled the original offer.

This is a common principle in contract law.

New Offer Requires Acceptance:

The revised offer from the sellers on Friday is a new offer.

The buyers are free to accept or reject this new offer.

No Obligation Without Acceptance:

Since the buyers haven't accepted the new offer yet, they are not legally obligated to purchase the house.

Therefore, the correct answer is D. They are not legally obligated to purchase the house.