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On May 1 Betty offers to sell a bicycle to Ruth for $400. On May 3 Ruth mails Betty an acceptance of the offer. On

On May 1 Betty offers to sell a bicycle to Ruth for $400. On May 3 Ruth mails Betty an acceptance of the offer. On May 4 Betty calls Ruth and revokes the offer. On May 5 Betty receives the acceptance mailed by Ruth. Assuming no issues with capacity, legality or statue of frauds is there a binding contract? Why or why not?

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