Offer and Acceptance

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  • #184827
    Anonymous
    Inactive

    Below is a question on offer and acceptance and I am just wondering what would happen if some of the dates got changed.

    Question: On day 1, Jackson, a merchant, mailed Sands a signed letter that contained an offer to sell Sands 500 electric fans at $10 per fan. The letter was received by Sands on day 3. The letter contained a promise not to revoke the offer but no expiration date. On day 4, Jackson mailed Sands a revocation of the offer to sell the fans. Sands received the revocation on day 6. On day 7, Sands mailed Jackson an acceptance of the offer. Jackson re ceived the acceptance on day 9. Under the Sales Article of the UCC, was a contract formed?

    Answer: A contract was formed on the day Sands mailed the acceptance to Jackson.


    Now, I am just wondering, would would happen if some of the dates got changed?

    Scenario 1: Day 1, Jackson mailed letter saying blah blah blah, will not be revoked for 30 days. Jackson sent revocation letter on day 5. Can Jackson have the right to revoke it even though he said it will not be revoked for 30 days?

    Scenario 2: Day 1, Jackson mailed letter saying blah blah blah, will not be revoked for 30 days. Jackson sent revocation letter on day 5. Sands received first letter on day 4, and mailed acceptance letter on day 5. She received rejection letter on day 6. Bottom line is, when you have all this mail at X date and received at Y date stuff, if you’re the offeree and if the offeror sends a revocation letter, when is it still accepted?

    -Is it accepted if you sent the acceptance letter before you receive the revocation letter?

    -Or, is it accepted if the offeror receives your acceptance letter before you send his/her revocation letter?

Viewing 4 replies - 1 through 4 (of 4 total)
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  • #543002
    Jordan23cc
    Participant

    This counts as a merchant's firm offer which is type of offer that is irrevocable by a merchant. This offer must be in writing, signed by the merchant, and promised to be kept open or silent on the matter. Assuming since it was mailed, the merchant's offer was in writing and signed by the merchant.

    For this particular example, the dates are irrelevant as long as the offeree makes a valid acceptance in a reasonable time there is a valid contract regardless if the merchant tries to revoke the offer or not.

    F - 2/15/2014 - 85
    B - 2/26/2014 - 88
    R - 4/1/2014 - 83
    A - 4/21/2014 - 95

    Licensed CPA in TX

    I can do all things through Christ who strengthens me.

    #543031
    Jordan23cc
    Participant

    This counts as a merchant's firm offer which is type of offer that is irrevocable by a merchant. This offer must be in writing, signed by the merchant, and promised to be kept open or silent on the matter. Assuming since it was mailed, the merchant's offer was in writing and signed by the merchant.

    For this particular example, the dates are irrelevant as long as the offeree makes a valid acceptance in a reasonable time there is a valid contract regardless if the merchant tries to revoke the offer or not.

    F - 2/15/2014 - 85
    B - 2/26/2014 - 88
    R - 4/1/2014 - 83
    A - 4/21/2014 - 95

    Licensed CPA in TX

    I can do all things through Christ who strengthens me.

    #543004
    Anonymous
    Inactive

    So if I am getting this right, a merchant saying this offer will last for 30 days and then sends a letter to revoke it before 30 days, the offer would still last to 30 days?

    #543033
    Anonymous
    Inactive

    So if I am getting this right, a merchant saying this offer will last for 30 days and then sends a letter to revoke it before 30 days, the offer would still last to 30 days?

Viewing 4 replies - 1 through 4 (of 4 total)
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