Assignment task:
Owner has a piece of property called Blackacre. Buyer is interested in purchasing it. The following exchange takes place: June 1 Buyer mails a letter to Owner, offering to buy Blackacre for $50,000. June 2 Buyer mails a second letter to Owner withdrawing the offer. June 3 Owner receives Buyer's June 1 letter which includes the offer. June 4 (10 a.m.) Owner mails an acceptance of the June 1 offer. June 4 (4 p.m.) Owner receives Buyer's June 3 letter withdrawing the offer. It is now June 5. Do Owner and Buyer have a contract for the purchase of Blackacre? Group of answer choices No, because Buyer and Owner never established a meeting of the minds. No, because Buyer effectively revoked its offer before Owner accepted the offer. Yes, because Buyer's June 1 offer was made irrevocable by it being placed in a mailbox. Yes, because Owner's June 4 acceptance was mailed before Owner received Buyer's revocation.