I dont get it..HELPZZZZZ!?

On July 15, A, owner of a hardwares store, sends a letter to B offering to sell his store, business inventory and good will for total price of $150,000. B sends a letter to A on July 20, accepting the offer n agreeing to buy the business for $150,000. A receives B's letter of acceptance on July 22. B acceptance is A. effective when mailed on July 20 B. invalid as a counteroffer C. effective when received on July 22 D. none of above











AFTER sending the letter, A received an offer of $175,000 FOR HIS BUSINESS. As a result, he sends a letter to B on July 19 revoking his offer. B receives the letter on July 21. The revocation


a. Is effective when mailed on July 19


b. terminated the offer prior to B acceptance


c. is effective when received on July 21, n doen't terminate the offer which been accepted


d. none above

I dont get it..HELPZZZZZ!?
Common law governed contract follow the mail box rule. As such, an acceptance of a non-output/requirement k is effective upon deposit into the mail. Therefore, any revocation after the point of mailing is a breach.





Second, a revocation is effective upon receipt by offeree. Therefore, the July 19 revocation is not effective.
Reply:look up the "mailbox" rule in your materials. Some things are effective when mailed and some are effective when recieved.
Reply:Read Gano's Commercial Law at the link below.
Reply:This is so hypothetical. You need to read the text book associated with the class you must be taking.





The letters ought to be checked by a lawyer to make sure no loopholes in how phrased, and they ought to be sent certified mail so there is no doubt when sent and when received.
Reply:In reality it doesn't matter. The person selling the buisness has the right to cancel any such transaction until the title/deed is signed and out of their hand. But if this is for a class my guess would be A but you should look in your book. It most likely is taken straight out of the book to force you to read the chapter.