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On July 1 st , Rawan, a merchant , wrote to Tara: I offer to sell you a 60-inch 4K LED television for $500. This
On July 1st, Rawan, a merchant, wrote to Tara: "I offer to sell you a 60-inch 4K LED television for $500. This is a firm offer for 60 days from today's date. (Signed) Rawan."
On July 10th, Tara received a letter from Rawan: "I hereby revoke my offer of July 1st."
On August 15th, Tara wrote and mailed a letter to Rawan: "I accept your offer of July 1st."
- Is there a contract? If no, explain why not. If yes, explain why, including when the contract became effective.
- Now assume that that Rawan's offer stated that it was firm offer for five months, and that on October 15th, Tara received a letter from Rawan, dated October 10thth: "I hereby revoke my offer of July 1st." On November 15th, Tara mailed an acceptance.
Is there a contract? Explain.
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