Explain your answers in as much detail as possible. For each answer, state the law (including all of the relevant elements of the law), state the relevant facts, apply the law to the facts, and give your opinion as to what the outcome should be.
Acme Equipment offers to sell a dough-cutting machine to Big Bagels Inc. The offer states: “This offer expires Friday noon.” On Friday, at 10:00 am Eastern
time (Florida time), the sales manager for Acme calls the president of Big Bagels and says, “Well, I guess you don’t want it. Contract is terminated.” What are
the elements of a valid offer? Was this a valid offer, and why? Could this offer be terminated, and why?
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