Cancellation of a Deal
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Question
The owner of a carpentry shop wanted to buy a professional saw and agreed with the seller on a certain amount, giving him an advance of one thousand shekels. Now he has received an offer from someone else that is nine thousand shekels lower than the first price. Is it permissible to back out?
Answer
Since an advance was given, it is already considered a transaction, and he cannot back out.
Source
Choshen Mishpat 243
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