On July 1^st, Jane, the CEO of Blue, a manufacturer of cotton clothing for women, sent a signed letter to Pablo, the owner of Tango, an exclusive women's boutique located in Soho, New York, and offered to sell 200 cotton shirts of the classic button-down design style at $30 per shirt. In the letter, Jane promised to hold the offer open until 5:00 pm on August 3^rd.The offer was received by Pablo on July 2^nd.

As the CEO of Blue, Jane monitored cotton prices very carefully. Cotton is an important component in the production and an increase in the cost of cotton would have a significant impact on the profitability of the offer she had made to Tango.She grew concerned when she saw a significant spike in cotton prices of 40 percent during the first two weeks of July. On July 20^th, Jane sent a letter to Pablo stating that she revoked her offer of July 1^st.The letter was received by Pablo on July 23^rd.

On July 25^th Pablo sent a letter by authorized means to Jane accepting the offer of July 1^st. Pablo was pleased about the deal, because several of his best customers had already placed orders for more than 100 shirts. The letter did not arrive until August 5^th due to postal service delays.

When Jane received Pablo's letter, she immediately emailed Pablo and reminded him that she had sent him a letter revoking the offer of July 1^st.Judgment for whom (25 points)?