11)Day 1: Mike sends Tina a letter offer to sell his fish tank to her for $125.

Day 2: Tina faxes Mike an acceptance.

Day 2: Mike receives Tina's fax.

Day 3: Mike calls Tina to revoke his offer.

Mike and Tina:

a) do not have a contract since Tina used the wrong means of acceptance.

b) do not have a contract because Mike revoked his offer before Tina accepted properly

c) have a contract as of the receipt of the fax.

d) have a contract as of when the fax was sent

12)The language "I offer to sell you my 1974 White Ford Torino" is:

a)a valid offer

b) not a valid offer because it lacks a definite price

c) not a valid offer because there are no terms for payment.

d) not a valid offer because it is oral.