An invitation to offer does not constitute an offer.
Senor Abbey was taking his son Parak through the city of Bangalore during a fair. Parak saw a shop that was selling a very cute teddy bear and told his dad that he wanted it. Senor Abbey asked the shopkeeper its price and was told that it was not for sale. He was infuriated and told the shopkeeper that since he had put it out on display, he had to sell it as he was ready to pay any amount for it. The toy itself was quite unreasonably priced at Rs. 500, but he was ready to pay the amount. The shopkeeper still refused to sell the teddy bear.
Which of the following statements is true regarding the given situation?
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