Determine whether a contract has been formed

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Reference no: EM133609109

Question: On March 1, the Katy Railroad sent a letter to the A-1 Steel Company asking the price on 50,000 tons of steel rails. On March 5, A-1 responded by letter offering to sell Katy 50,000 tons of steel rails for $75 a ton. On March 10, Katy wrote that it would buy 100,000 tons at $75 a ton. On March 15, A-1 responded that it could not fill an order for 100,000 tons. On March 20, Katy wrote back stating that it would buy 50,000 tons at $75 a ton. On March 25, A-1 responded that it could not fill Katy's order. Analyze each communication and determine whether a contract has been formed. In the above fact situation, what difference would it have made if the Steel Company's letter had not included the statement, "This price will be good for 30 days"? How would this change your answer?

Reference no: EM133609109

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