WAS A CONTRACT FORMED?

In each case, assume that each event occurred on succeeding days in the order specified.

Was a contract formed? When?

1(revocable offer)

Day 1 revocation sent

Day 2 acceptance sent (authorized means)

Day 3 acceptance received

Day 4 revocation received

- A contract is effective when received; on day 2, the contract is effective. On day 3, it is

when the acceptance is accepted and effective since it was received. An offer is

compelling from when it is sent but starts to be effective after it is received. However, an

offer can be revoked, but a contract cannot.

2 (revocable offer)

Day 1 acceptance sent (unauthorized means)

Day 2 revocation sent

Day 3 revocation received

Day 4 acceptance received

- There is no contract because on day 4, and it was too late to receive since day three, the

revocation letter was received.

3 (revocable offer)

Day 1 revocation sent

Day 2 revocation received

Day 3 acceptance sent (authorized means)

Day 4 acceptance received

- There is no contract because the revocation letter was received on day 2, and it began to

be effective.

Day 1 acceptance sent (authorized means)

Day 2 time for receipt of acceptance specified in the offer expires

Day 3 acceptance received

- There is no contract because the acceptance date must be received by a specific date from

the person offering

5 (irrevocable offer)

Day 1 revocation sent

Day 2 revocation received

Day 3 acceptance sent (authorized means)

Day 4 acceptance received

Day 5 period of irrevocability ends

- In this case, there is no contract because the revocation letter was sent on day 1 and

received on day 2, and the contract could have proceeded from that point.