Transaction 1-Elmo receives a letter fromZoeyoffering to sell her Easy Bake Ovenfor $500.On Jan. 10, Elmo mails his letter of acceptance.On Jan. 11, Elmo receives a letter fromZoeyrevoking the offer. Is there a contract?______________________________________

Transaction 2- Elmo receives a letter fromColdplayinviting him to replace Chris Martin as the singer.On Aug. 8, Elmo mails a letter of rejection.On Aug. 9, Elmo 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:To: Professor YamenFrom: (Your Name) Subject: ELMO TRANSACTION Facts: List all relevant factsQuestion #1Question #2 Analysis answering each question separately and providing the full question in body of assignment