Originally posted by Stroppy
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Technically, from a purely legal standpoint, it is incorrect.
This was settled around about 1913 [?] in a case against Boots, known back then as Boots Pharmaceuticals.
There are 3 stages to every transaction.
1. Invitation to treat.
2. Offer.
3. Acceptance.
So...
1. Having goods on display is an invitation to treat - i.e. offering the punter the opportunity to make an offer on the goods.
2. The offer comes from the customer.
3. The final act of acceptance lies with the seller.
Cold, simple logical analysis. The reason most people think, and you can sometimes pull off, mispricing errors is because of consumer protection law.
For an example of why I am right, that many of you will have been the subject of, see misprices on websites.
1. The goods are marked up at below their value (invitation to treat).
2. Customer places order. (Offer)
3. Seller acknowledges the placing of an order BUT DOES NOT accept that until processed at a later stage.
The seller can then choose to either accept the offer or decline it.
Nothing wrong with that at all - it allows scope for genuine error to be rectified, and, if the seller wants to honour their misprice to create goodwill, they are entitled to do that.
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