Transaction 1- Elmo receives a letter from Zoey offering to sell her Easy Bake Oven for $500. On Jan. 10. Elmo mails his letter of acceptance. On Jan 11, Elmo receives a letter from Zoey revoking the offer. Is there a contract? Transaction 2- Elmo receives a letter from Coldplay inviting him to replace Chris Martin as the singer. On Aug. 8, Elmo mails a letter of rejection on Aug. 9, Eimo changes his mind and mails a letter of acceptance. What result if the rejection letter arrives first? PLEASE DISCUSS BOTH TRANSACTIONS- USING THE LAW AND FACTS TO ANSWER. STATE THE LAW FIRST and RULE THAT APPLIES, THEN USING FACTS ANSWER!!! FORMAT FOR TURNING IN Please follow the following format: Subject: ELMO TRANSACTION Facts: List all relevant facts Question #1 Question #2 Analysis answering each question separately and providing the full question in body of assignment