Contracts
Under Kentucky law, a seller who accepts an offer and then receives a better offer cannot simply back out of the first contract because:
AOnly FSBO sellers can accept multiple offers
BThe first accepted offer creates a binding contract✓ Correct
CBrokers must present only one offer at a time
DThe seller must wait 24 hours before accepting any offer
Explanation
Once a seller accepts an offer that has all the elements of a valid contract (offer, acceptance, consideration, capacity, legal purpose, and in writing for real estate), a binding contract exists. The seller cannot simply accept a better offer without breaching the first contract.
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