When I went to check my watch list on GunBroker this morning, I was confronted with a requirement to accept the new user agreement. In part, the new agreement states:
"[P]lacing a bid on an auction item constitutes Buyer creating a legally biding legal contract with the Seller for the purchase of item on the terms stated in the listing as supplemented by this Site."
In law school, we teach a binding contract occurs when the buyer offers and the seller accepts the offer. GunBroker apparently thinks a bid creates a binding legal contract. A bid is nothing more than an offer to sell, which may either be accepted or rejected by the seller. A binding contract is only created when a seller accepts the bid. GunBroker is somehow ignoring centuries of law and has now determined a binding contract is created when a bid is made.
It would be interesting to know the Seller's responsibility for that new contract.
"[P]lacing a bid on an auction item constitutes Buyer creating a legally biding legal contract with the Seller for the purchase of item on the terms stated in the listing as supplemented by this Site."
In law school, we teach a binding contract occurs when the buyer offers and the seller accepts the offer. GunBroker apparently thinks a bid creates a binding legal contract. A bid is nothing more than an offer to sell, which may either be accepted or rejected by the seller. A binding contract is only created when a seller accepts the bid. GunBroker is somehow ignoring centuries of law and has now determined a binding contract is created when a bid is made.
It would be interesting to know the Seller's responsibility for that new contract.