Homework Answers
Solution:
Whether or not Smith is under obligation to revive the offer depends on the validity of his initial offer. If the initial offer has a time validity more than an hour then Smith will have to consider the offer from Jones and if no time validity is specified then Smith may not be obliged for the same.
A proposal becomes an offer when the proposal is final and accepted by all the parties involved.
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1. If Smith makes an offer and Jones says NO, and then 1 hour later Jones...
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