Magin offered to sell Richards some secondhand college textbooks for $75 . Richards wasn't sure he wanted the books. Magin then agreed to keep the offer open for five days if Richards would give him $5 . Can Magin legally withdraw this offer before the five days are up?
No. Magin created an option contract when he accepted consideration ($5) to keep the offer open. Therefore, he (Magin) may not revoke the offer during the time the option is in effect?in this case, five days.
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