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A seller promised to keep an offer open while the buyer made costly preparations. After an initial agreement or ruling, later conduct created ambiguity about whether the required legal element was satisfied. The opponent argues that the doctrine is unavailable because one formal requirement is missing.
How should the court, tribunal, or decision maker resolve the dispute? Discuss the strongest arguments for each side, state the controlling rule for contract formation, apply it to the material facts, and explain the likely remedy or consequence.