Question
Southern Wire Company wrote Greene Construction Company a letter offering to sell 10,000 feet of X12 wire for $7500. The Letter also stated that This
Southern Wire Company wrote Greene Construction Company a letter offering to sell 10,000 feet of X12 wire for $7500. The Letter also stated that This offer shall be open for 30 days" and was signed by Frank, Southern Wire Companys authorized sales representative. Which of the following statement is correct?
- Southern Wire Company cannot revoke the offer until after 30 days have passed, because it is a firm offer.
- Southern Wire Company can revoke the offer because Greene Construction Company gave no consideration to have the offer held open for thirty (30) days.
- Southern Wire Company can revoke the offer as it is not an option contract.
- Southern Wire Company cannot revoke the offer because of promissory estoppel
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