(a) Sophia, a wholesale electronics dealer, had 1,500 smart phones which she wished to sell. On May 5, she telephoned Luna, a retailer, and offered to sell Luna all the phones for $75,000.

(b) Luna recognized that the price was a real bargain but was concerned about whether she would be able to get financing that would allow her to buy that many phones at one time. Luna asked Sophia if she would promise to keep the offer open for 20 days so that Luna could arrange financing. Sophia, who was anxious to sell the phones, wrote out the following, which she signed and mailed to Luna, who received it the next day:

"I,Sophia, do hereby promise Luna that my offer to sell 1,500 phones (as described below for $75,000) will be held open until May 25 and will not bewithdrawn before that time."

(c) On May 13, Mauricio, another retailer, came to Sophia's warehouse, saw thephones, and asked about the price. Mauricio offered to buy them immediately for cash.

On May 14, Sophia sent Luna a letter in which Sophia stated that she was revoking her offer because she was going to sell the phones to someone else. Luna received this letter on May 15.

(d) Luna ignored the letter and, on May 16, having arranged for financing, mailed a letter to Sophia accepting the offer. Due to delays in the mail, the letter was not received by Sophia until May 27.

(e) On June 2, Luna, who had not heard from Sophia, called Sophia to inquire about when the phones would be delivered. Sophia said that there was no contract and that the phones had been sold to Mauricio.

Luna sues Sophia for breach of contract. Judgment for whom? Discuss,explaining the significance of each communication and action, (a) through (e) above.

Explain fullyexplaining the significance of each communication above.