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Based on the fluctuating price of oil, BoatOo. wrote to Oil Company requesting a firm price on fuel. On May 1, Oil Company wrote to
Based on the fluctuating price of oil, BoatOo. wrote to Oil Company requesting a firm price on fuel. On May 1, Oil Company wrote to BoatOo., stating the following on its official letterhead: "I offer to supply you with 200 barrels of fuel. Price: $1.50 per gallon. Because of your past business, this offer will not be withdrawn for two months." BoatCo. received the letter on May 5 and read the contents. On June 15, the price of oil increased, and Oil Company called BoatOo. stating it was retracting its May 1 offer. The next day, BoatOo. replied in writing: "I accept your offer," which was received and read by Oil Company on June 20. Was there a contract formed between BoatOo. and Oil Company
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