Question
On January 31, 2019, Ralph sent a written offer to Jake to sell his classic Triumph for $6,500. Jake received the offer on February 2,
On January 31, 2019, Ralph sent a written offer to Jake to sell his classic Triumph
for $6,500. Jake received the offer on February 2, 2019. On February 3, 2019,
Jake
emailed Ralph and asked if Ralph could hold the car until February 10, 2019 so that
he could sell some stock to get the cash. On February 4, 2019, Ralph
emailed Jake,
"Of course. I will hold the car." Later on that day, Tom saw the Triumph at Ralph's
house with a "For Sale" sign on it and offered Ralph $7,000.
Ralph sold the Triumph
to Tom and sent Jake a letter on February 5, 2019, revoking his offer. On February
6, 2019, Jake sent Ralph a letter with a cashier's
check for $6,500. Jake received
the revocation on February 7, and Ralph received Jake's check and acceptance on February
8, 2019.
Which of the following statements is correct?
Ralph was obligated to hold the Triumph for Jake until February 10, 2019.
Jake had a merchant's firm offer from Ralph.
Jake can get the car back from Tom.
Ralph's offer could be revoked at any time
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