
Exploring Economics
8th Edition
ISBN: 9781544336329
Author: Robert L. Sexton
Publisher: SAGE Publications, Inc
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Transcribed Image Text: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.
"P
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