Scenario #2
1) I would accept the offer from my dream school. After all, I only have a verbal agreement with the "other" school and no guarantee. I would IMMEDIATELY notify the "other" school I have decided to decline their offer.
2) I would accept the offer from my dream school since I only have a verbal agreement with the other school and no guarantee. Then, I would WAIT until I had a signed contract in hand before notifying the "other" school that I decided to decline their offer.
3) I would refuse the offer from my dream school and honor my word.
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