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| Doral Inc. wished to obtain an adequate supply of lumber for its factory extension which was to be constructed in the spring. It contacted Ace Lumber Company and obtained a 75-day written option (firm offer) to buy its estimated needs for the building. Doral supplied a form contract which included the option. Ace Lumber signed at the physical end of the contract but did not sign elsewhere. The price of lumber has risen drastically and Ace wishes to avoid its obligation. Which of the following is Ace’s best defense against Doral’s assertion that Ace is legally bound by the option? A. Such an option is invalid if its duration is for more than 2 months. B. The promise of irrevocability was contained in a form supplied by Doral and was not separately signed by Ace. C. Doral is not a merchant. D. The option is not supported by any consideration on Doral’s part. |