Contracts
In Utah, if a seller accepts an offer and then receives a higher offer from another buyer, the seller:
AMay accept the higher offer by informing the first buyer
BIs legally bound by the first contract and may not accept the second offer✓ Correct
CHas 24 hours to decide between the two offers
DCan accept the second offer if it's more than 5% higher
Explanation
Once a seller has accepted an offer and a binding contract has been formed, the seller is legally obligated to proceed with that transaction. Accepting a second offer would constitute breach of the first contract, exposing the seller to legal liability.
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