Answered step by step
Verified Expert Solution
Question
00
1 Approved Answer
Bob, a merchant, makes an offer to Linda, another merchant, to buy 1,000 of her widgets in a signed letter containing all necessary terms of
Bob, a merchant, makes an offer to Linda, another merchant, to buy 1,000 of her widgets in a signed letter containing all necessary terms of the offer. The letter states that Bob will keep the offer open for three weeks from the day the offeree receives it. One week later, Bob writes another letter to Linda attempting to revoke his offer. Linda writes a letter to Bob accepting Bob's original offer before she receives his revocation. Which of the following is true regarding this situation? Multiple Choice O Promissory estoppel prevents the formation of a contract in this situation, The offer cannot be revoked since it is an option offer. O Linda's acceptance is effective and a contract is created Bob's revocation is effective and no contract is created
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started