38. On January 7, Scott sends a letter to Aaron offering to sell his Xbox video game system for $50. On January 10, Aaron mails a letter of acceptance. On January 11, prior to receiving Aaron's letter, Scott faxes a letter to Aaron revoking his offer to sell his Xbox. As to the letters sent by Scott and Aaron: Aaron's letter is merely a counter-offer and Scott has the power to revoke. b. a. Scott's revocation is valid, no contract exists. Aaron's acceptance is effective upon dispatch and a valid contract exists. no contract because this contract must be in writing. c. d.

38. On January 7, Scott sends a letter to Aaron offering to sell his Xbox video game system for $50. On January 10, Aaron mails a letter of acceptance. On January 11, prior to receiving Aaron's letter, Scott faxes a letter to Aaron revoking his offer to sell his Xbox. As to the letters sent by Scott and Aaron: Aaron's letter is merely a counter-offer and Scott has the power to revoke. b. a. Scott's revocation is valid, no contract exists. Aaron's acceptance is effective upon dispatch and a valid contract exists. no contract because this contract must be in writing. c. d.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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