question archive Pennington made a signed written offer to Wilcox to purchase Wilcox's 1970 Corvette automobile

Pennington made a signed written offer to Wilcox to purchase Wilcox's 1970 Corvette automobile

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Pennington made a signed written offer to Wilcox to purchase Wilcox's 1970 Corvette automobile. In his written offer, Pennington agreed to hold the offer open for a week. However, two days later, Pennington called Wilcox and attempted to revoke his offer. If neither Pennington nor Wilcox are merchants, can Pennington revoke the offer? Why or Why not? Would your answer be different if Pennington were a merchant regularly engaged in selling and purchasing automobiles? Why or why not? Explain fully, nothing the applicable legal rule(s) and whether they are met.

 

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