What is the correct statement regarding seller Gordon's refusal to accept an offer based on earnest money?

The assertion that Gordon is entitled to set his own terms is accurate because sellers in real estate transactions have the right to negotiate and dictate the conditions under which they will accept offers on their property. This includes the ability to determine the amount of earnest money they consider acceptable. Sellers are not legally bound to accept any offers and can reject them for a variety of reasons, including their personal preferences regarding earnest money, price, or specific contingencies outlined in the offer.

In real estate transactions, terms can vary widely based on individual circumstances and market conditions, and it is within a seller's rights to accept or decline offers based on those terms. Therefore, Gordon's refusal based on the earnest money amount reflects his prerogative as a seller rather than a legal violation or an obligation to accept any offer presented.