COL. D.I.MAC PHERSON vs M.N. APPANNA AND ANOTHER.

The Supreme Court held that B's cable on August 5, 1944, stating he would not accept less than Rs. 10,000 was a mere statement of the lowest price and not a counter-offer. A's subsequent letter on August 14, 1944, which purported to confirm an oral offer of Rs. 10,000, was deemed a fresh offer that B did not accept. Consequently, there was no concluded contract for the sale of the house in favor of A, affirming the lower court's decision. The principle established is that a statement of the lowest price does not constitute an acceptance of an offer under contract law, as referenced in Harvey v. Facey [1803] A.C. 552.