On July 1, Mr

Multiple Choice

On July 1, Mr. Burns makes an offer to sell used well piping to a steel mill for recycling into new steel. On July 15, the steel mill mails Mr. Burns its acceptance. However, on July 17, before the acceptance reaches him, Mr. Burns revokes the offer by faxing his revocation to the mill. The acceptance never arrives. Is there a contract?

A) No, Mr. Burns has to receive the acceptance before it will become effective.
B) Yes, the mailbox rule holds that a contract is created when the acceptance is dispatched.
C) No, the mill has the duty to assure that the offeror knows of the acceptance, even if he does not receive it.
D) Yes, but only if the mill gave Mr. Burns some form of consideration to keep the offer open.