Merchant A offers in writing to sell your company certain goods at a certain price and also promises in writing to keep the offer open until June 1.You are considering your options but have not accepted yet as it is still before June 1.Merchant A realizes that he can get a better price by selling the same goods to another company; therefore he sends you a revocation letter informing you the deal is off.He then sends a letter to Merchant C offering to keep his offer to sell at higher price open until June 15What best describes the legal obligations of Merchant A in this fact pattern?

Question 8 options:

1) Merchant A can revoke his original offer because you have not accepted.

2) Merchant A can revoke his original offer because you have not paid any consideration to give an option contract to keep his offer open until June 1.

3) Merchant A is still obligated to hold his offer open you as required by the UCC.

4) Merchant A has formed a valid option contract with Merchant C.