CA CPT 2016 June Question Paper Mercantile Laws for online practice

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Question : 2 of 40

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A telegraphed to B “will you sell me your house? Let me know the lowest price” B replied“Lowest price is Rs.900.” A agreed to buy and asked for title deeds. There is no reply from B.Is B under obligation to sell?

Yes, B should sell the house because the offer with the lowest price is accepted by A
No, there was no contract because B has communicated only the lowest price
Yes because communication of lowest price it self-forms a contract
No, because offer is of negative nature.

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