6. On Friday, Billy mails Andrew an offer, which Andrew receives on Monday. On Tuesday, Billy mails Andrew a revocation, which Andrew does not receive until Thursday; Andrew takes no action when he receives the revocation. Meanwhile, Andrew mailed Billy an acceptance on Wednesday that Billy receives on Friday. Is a contract formed, and if so, on what day?

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Justin

Business

18 July, 13:06

6. On Friday, Billy mails Andrew an offer, which Andrew receives on Monday. On Tuesday, Billy mails Andrew a revocation, which Andrew does not receive until Thursday; Andrew takes no action when he receives the revocation. Meanwhile, Andrew mailed Billy an acceptance on Wednesday that Billy receives on Friday. Is a contract formed, and if so, on what day?

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Answers (1)

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Ivy Sullivan · Answer 1

A contract was formed when Andrew mailed his acceptance on Wednesday.

Explanation:

A contract is formed only if the parties intend to be legally bound by their promises and have clearly agreed on what those promises are. This is known as a meeting of the minds. The court will look for certain elements to determine whether a valid contract has been made. These are offer, acceptance, and consideration