Anderson's Business Law and the Legal Environment 20th Edition by David Twomey,Marianne Jennings

Exercise 4

Fastener Corp. sent a letter to Renzo Box Co. that was signed by Ronald Lee, Fastener's sales manager, and read as follows: "We hereby offer you 200 type #14 Fastener bolts at $5 per bolt. This offer will be irrevocable for ten days." On the fifth day, Fastener informed Renzo it was revoking the offer, alleging that there was no consideration for the offer. Could Fastener revoke? Explain.