Next Generation Bar Exam Quiz
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CONTRACTS
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On June 1, Steel Corp., a merchant, faxes Builder a signed proposal: "We offer to sell you 2,000 tons of rebar at $600 per ton. This offer will be held open for six months." Builder gives Steel Corp. no consideration for the promise to hold the offer open. On August 1, Steel Corp. telephones Builder and revokes. Builder faxes an acceptance on August 5.
Under UCC Article 2, is there a contract?
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