Ali is the manager of a well reputed organization. He is assigned to auction some assets of the firm. Instead of organizing

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Ali is the manager of a well reputed organization. He is assigned to auction some assets of the firm. Instead of organizing an auction Ali compiles a list of items and puts an advertisement on the paper stating that anyone who is willing to purchase the said articles for Rs. 1 Lac can contact him directly by 15th April 2021 through email only.

Ahmed saw the advertisement and emailed Ali on 12th April asking for pictures of the items or if it was possible for him to view the items. Ali provided the pictures. Ahmed then emailed Ali that he is willing to purchase the said articles for Rs. 90 thousand and wrote that if Ali did not reply he will assume that Ali has accepted the offer.

On 14th April at 3 pm, Saad emailed Ali and said the following, “I will purchase the listed articles.”

On 14th April at 4:30 pm, Khan called Ali and brokered a deal to purchase the articles.

 

Answer the following questions.

Ali sold the articles to Khan. Is it a valid sale

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