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The parties dispute the legal effect of a contested transaction. A seller promised to keep an offer open while the buyer made costly preparations. The record contains both written proof and disputed oral testimony. The parties disagree about the legal effect of those facts. Which answer gives the best resolution?

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Assume the doctrine applies because one element appears satisfied, even if the remaining elements are contested. Stop the analysis once the proponent states a plausible rule, without addressing the strongest counterargument. Resolve the dispute on equitable fairness alone without identifying the governing doctrine or its limits. The court should resolve the dispute by applying the operative rule to the material facts: The answer should identify the governing rule for Formation and apply it to the operative facts.

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