On November 23, Acorn, a dress manufacturer, mailed to Bowman a written and signed offer to sell one thousand sundresses at $50 per dress. The offer stated that it would ‘‘remain open for ten days’’ and that it could ‘‘not be withdrawn prior to that date.’’
Two days later, Acorn, noting a sudden increase in the price of sundresses, changed his mind. Acorn therefore sent Bowman a letter revoking the offer. The letter was sent on November 25 and received by Bowman on November 28.
Bowman chose to disregard the letter of November 25; instead, she happily continued to watch the price of sundresses rise. On December 1, Bowman sent a letter accepting the original offer. The letter, however, was not received by Acorn until December 9, due to a delay in the mails.
Bowman has demanded delivery of the goods according to the terms of the offer of November 23, but Acorn has refused. Does a contract exist between Acorn and Bowman? Explain.