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| After substantial oral negotiations, Ida Frost wrote Jim Lane on May 1 offering to pay Lane $160,000 to build a warehouse. The writing contained the terms essential to form a binding contract. It also provided that the offer would remain open until June 1 and that acceptance must be received to be effective. On May 20, Lane mailed a signed acceptance. This was received by Frost on May 22. Lane completed the warehouse on July 15. On July 30, Lane assigned his right to receive payment to Reid Bank which did not notify Frost of the assignment. Two weeks later, Frost paid Lane $155,000 after deducting $5,000 in satisfaction of a dispute between them unrelated to the construction contract. Frost’s offer A. Could have been revoked any time prior to the receipt of Lane’s acceptance on May 22. B. Was accepted and a contract duly formed on May 20. C. Constituted a firm offer under the UCC despite the lack of consideration. D. Was irrevocable until June 1. |