Regarding allowing buyers to cancel their purchases an hour after they win an auction, I would just think of this as ebay is trying to become more like Amazon or even Walmart/Target where buyers are allowed to return items. ebay wants to position itself as one big superstore which everything buyers want rather than just a big auction house / flea market. So think of it that way. Regarding binding contracts, I thought many states including California where ebay is located had a 2-3 day "cooling off" period where contracts could be cancelled. Obviously, I'm not a lawyer so this might have nothing to do with what ebay is doing.
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