Question

Joseph offered to sell Chelsea his bicycle for $100. Chelsea told Joseph she would be happy to buy his bicycle, and asked if the price included an extra tire. Joseph said there was no extra tire. Chelsea then agreed to pay $100 for the bicycle, but Joseph refused to sell stating that he now wanted $125 for the bicycle and that Chelsea had made a counteroffer when she mentioned an extra tire. Discuss whether or not Joseph may insist on receiving $125 for the bicycle.

Answer

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