Contracts
If a seller accepts one offer and then receives a higher offer, the seller:
AMay accept the higher offer and cancel the first
BIs legally bound by the first accepted offer and cannot cancel it to accept the higher offer✓ Correct
CMust present both offers to a mediator
DCan accept both offers with the condition that the first buyer has right of first refusal
Explanation
Once a seller has accepted an offer in writing and communicated that acceptance, a binding contract exists. The seller cannot legally cancel it to accept a higher offer without the first buyer's consent.
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