Alan offers, on day 1, to sell a book to Bob for $100. He thenchanges his mind and puts a revocation letter in the mail on day 2.Bob puts a letter in the mail on day 3 accepting the offer, andthen on day 4 receives the revocation letter. The most accuratestatement concerning the contract implications of this is

Group of answer choices

a contract has been formed on day 1

a contract has been formed on day 2

a contract has been formed on day 3

no contract has been formed

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Question 101 pts

Mark says to David \"If you walk across the Brooklyn Bridge onApril 30, I will pay you $100.\" David agrees to do this but thenchanges his mind and does not walk across the bridge on April 30.Of the following statements, the most accurate one is

Group of answer choices

David has breached a contract

David has not breached a contract because he was never paid$100

David has not breached a contract because there was noconsideration

David has not breached a contract because there was noacceptance

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Question 111 pts

Suppose that, in the preceding question, David starts to walkacross the Brooklyn Bridge but after he has completedthree-quarters of the walk, Mark says to him \"I revoke my offer.\"At this point in time,

Group of answer choices

there is no longer any contract because the offer has beenrevoked prior to acceptance

Mark has breached a contract with David to pay him $100

Mark's revocation is not effective because David has started towalk across the bridge

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Question 121 pts

Suppose that, in the previous two questions, David never tellsMark that he will walk across the Bridge, but on April 30 he doesso. The most accurate statement below is

Group of answer choices

Mark owes David $100 because a contract was formed and Davidperformed his contractual obligations

Mark does not owe David $100 because David never formallyaccepted the offer

Mark will only owe $100 if David can prove that Mark knew he wasgoing to walk across the Bridge

Mark does not owe David $100 because Mark is not gettinganything of value out of the agreement

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Question 131 pts

Acme Contractors agreed to build a home for $200,000. Thecontract called for performance in 80 days, but because of theowner's breach of the contract it took Acme 100 days to completethe contract. During this 100-day period, Acme had anothercontract, also in the amount of $200,000, and had home officeoverhead in the amount of $10,000. Acme sues the owner for delaydamages. Under the Eichleay case, Acme is

Group of answer choices

not entitled to damages for lost home office overhead because itwould have incurred that overhead in any event

entitled to $1,000 in lost home office overhead

entitled to $5,000 in lost home office overhead

entitled to $10,000 in lost home office overhead