Recently, I received an offer to purchase a knife I had for sale. Great, I'll wrap it up. Keep opening up e-mails and I get the following note from the same guy "Actually, I'll back out of this since you haven't responded yet." Time of first e-mail with offer to purchase 05:24 07/02/02. Time of second e-mail backing out of deal 12:35 07/02/02. A little over 7 hours and the deal is off. Now nobody was hurt, no money lost, no hard feelings. Maybe the guy just got cold feet and wanted an excuse to not purchase.
What is a 'reasonable' time to wait before backing out?
What is a 'reasonable' time to wait before backing out?