Q: I expressed an interest in buying a business but now I'm not sure -- I'm not legally bound to buy it, am I?
A: If you signed a contract, you may well be contractually obligated.
A: "Expressed interest" is a very vague term. In terms of basic contract law, if you entered into a contract (and a strong preference is that it be in writing, but I'll note that in many instances, verbal contracts can absolutely be legally binding), then you are bound by that contracted agreement. Whether you "entered into a contract" can more or less be boiled down to two basic elements: Did you offer? And if so, did they accept your offer? If the answer to both of those questions is "yes," then you may well be bound. (On a related note, if you offered but there was no expression of acceptance, then you should *retract* that offer as soon as possible.)
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