[Anonymous]

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 received the acceptance on day 9. Under the Sales Article of the UCC, was a contract formed?

A. No contract was formed because the offer failed to state an expiration date.

B. No contract was formed because Sands received the revocation of the offer before Sands accepted the offer.

C. A contract was formed on the day Jackson received Sands’ acceptance.

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

D, The offer was accepted using the same means of communication and so is valid when sent on day 9.

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Why is the offer valid when Sandra received the revoke letter before she sent out the acceptance letter?

[Anonymous]

Sounds like a firm offer to me. It is being sold by a merchant, it is signed and in writing. Since a date is not given for expiration of the offer we would assume it expires in a reasonable time (must not extend 3 months). From the date the offer was made to the date it was revoked was only 6 days. I don't think the merchant had the authority to revoke the offer…he is bound per say.

[Anonymous]

Sounds like a firm offer to me. It is being sold by a merchant, it is signed and in writing. Since a date is not given for expiration of the offer we would assume it expires in a reasonable time (must not extend 3 months). From the date the offer was made to the date it was revoked was only 6 days. I don't think the merchant had the authority to revoke the offer…he is bound per say.

[Anonymous]

Interesting. Is the offer lasting 9 days only specifically for this problem or is that a rule you need to know? Cause the merchant didn't say, “this offer will last for 9 days.”

[Anonymous]

Interesting. Is the offer lasting 9 days only specifically for this problem or is that a rule you need to know? Cause the merchant didn't say, “this offer will last for 9 days.”

[Anonymous]

6 days (3-9th day) is just for this problem. Key points here are the fact that the seller is a merchant and that he promised to keep it open..:.as long as it's not longer than three months it would be considered a firm offer. So what you need to be looking at is 1. Who is the seller (Is the seller a merchant?) 2. Did he promise to keep the offer open (remember, as long as it doesn't exceed 3 months it can still be considered a firm offer…also, if he didn't state any time frame, as long as the person accepts within a “reasonable” time it's valid and 3: it must be in writing and signed to be a firm offer. These three things are what you need to memorize not a set number of days.

Notes: the buyer can be another merchant or another individual. Amount does not matter with a firm offer (in other words, even if the sale is for $475 if it's a firm offer it has to be in writing. No consideration needs to be given with a firm offer.

Slow down and read the question. You need to understand each of the parties to the contract to answer these types of questions.

[Anonymous]

6 days (3-9th day) is just for this problem. Key points here are the fact that the seller is a merchant and that he promised to keep it open..:.as long as it's not longer than three months it would be considered a firm offer. So what you need to be looking at is 1. Who is the seller (Is the seller a merchant?) 2. Did he promise to keep the offer open (remember, as long as it doesn't exceed 3 months it can still be considered a firm offer…also, if he didn't state any time frame, as long as the person accepts within a “reasonable” time it's valid and 3: it must be in writing and signed to be a firm offer. These three things are what you need to memorize not a set number of days.

Notes: the buyer can be another merchant or another individual. Amount does not matter with a firm offer (in other words, even if the sale is for $475 if it's a firm offer it has to be in writing. No consideration needs to be given with a firm offer.

Slow down and read the question. You need to understand each of the parties to the contract to answer these types of questions.

[Anonymous]

Thanks for the explanation, that really helped. Also, I just went over the next lesson, which covered that the merchant's offer can last for 3 months, so this question is making more sense now lol.

[Anonymous]

Thanks for the explanation, that really helped. Also, I just went over the next lesson, which covered that the merchant's offer can last for 3 months, so this question is making more sense now lol.

[Anonymous]

Any time. Keep up the questions. You WILL pass!!!!

[Anonymous]

Any time. Keep up the questions. You WILL pass!!!!

[Anonymous]

Thanks man. And by looking at your results, BEC should be no match for you in April or May. After all, that's the only section I passed lol.

[Anonymous]

Thanks man. And by looking at your results, BEC should be no match for you in April or May. After all, that's the only section I passed lol.

[Author]

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