Question: 1.Assume there was a valid offer made and the consideration requirement was met for each party. If, on the night of January 7, 2013, Mr.
1.Assume there was a valid offer made and the consideration requirement was met for each party. If, on the night of January 7, 2013, Mr. Baher contacted Mr. Star and said I actually dont have $5,000,000, so my offer to pay you $5,000,000 is revoked, but Mr. Star still sends the acceptance letter and a copy of his birth certificate on January 8, 2013, would there be a valid contract? Explain. 2.Assume there was a valid offer and consideration. If, on the night of January 9, 2013, Mr. Baher contacted Mr. Star and said I changed my mind and I dont want to pay you $5,000,000, so my offer to do so is revoked, but Mr. Star had already sent the acceptance letter and a copy of his birth certificate on January 8, 2013, would there be a valid contract? Explain. 3.Assume there was a valid offer and consideration. If, at 12pm eastern on January 8, 2013, Mr. Baher mailed a letter to Mr. Star that stated, My offer to pay you $5,000,000 is hereby revoked. At the exact same time (at 12pm eastern on January 8, 2013), Mr. Star mailed the acceptance letter and a copy of his birth certificate. Would there be a valid contract? Explain.
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