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    An interesting mini-problem question is given in the Glanville Williams, and although he discusses one issue he does not answer the question:

    "A faxed B offering to sell his library for £30,000. B faxed in reply that he would accept for £25,000. A day later at 9am, A faxed B saying he would sell the office for £25,000. However at exactly the same time, B faxed A saying cancel my first fax, I will take the office for £30,000. A received Bs fax at 9.30am whereas B received As fax at 9.40am. What contract, if any exists?"

    the question is whether there is a contract formed assuming the counter offer by B did not lapse after a day.

    Thanks in advance for any help
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Updated: August 7, 2009

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