Franz bought two front-row tickets to a sold-out concert. Unfortunately, a week before the concert, he found out he had to go on a business trip and would miss the concert. He offered his co-worker, Joe, the tickets for 80% of the full price, offer to remain open until 10:00 p.m. on December 15. Indicate to Joe which of the following is true with regard to the law of offer and acceptance.
◦ A letter of acceptance is always effective when it is dropped in the mailbox.
◦ If Franz sells to someone else, it is too late for Joe to accept the original offer.
◦ To create a contract, an offer must be in writing.
◦ If Joe makes a counter-offer of 50% of the full price, and Franz rejects the counter-offer, Joe can still accept the original offer.
◦ Franz could revoke the offer at any time before acceptance, even before 10:00 p.m. on December 15.
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