Patent ID: 8712920
Filing Date: 2014-04-29
Classification: G06Q,G07F,Y10S

Abstract:
1. A processor-implemented method of electronically consummating a binding contract between a remote prospective buyer and a remote potential seller, which comprises: electronically receiving from the prospective buyer a purchase offer containing at least one condition, wherein the purchase offer contains the condition that the buyer has the right to withdraw its offer after a first-accepting seller accepts the offer provided that the buyer pays a specified penalty to the first-accepting seller; electronically making available the purchase offer to a plurality of potential sellers; electronically receiving from at least one of the potential sellers an unconditional acceptance of the offer; determining by the processor the first unconditional acceptance to be received and the identity of the corresponding first-accepting seller; and collecting payment for the purchase from the buyer, wherein collecting payment includes receiving from the buyer credit card information and authorization to charge the payment against the credit card.