Problem:
On January 2, Universal Car, a producers of catalytic converters, sent to Customs Kars, a letter offering to sell 100 converters for $600 each. Universal Cars gave Customs Kar until February 20th to accept the offer. A week later, the price of catalytic converters started to increase, due to supply chain problems. A few days later, the converters were selling for $900 each. On January 16, Customs Kars received a letter from Universal Cars revoking the offer. On February 18th, Customs Kar mailed a letter of acceptance to the January 2 offer. The letter of acceptance was delayed and received by Universal Car on February 28. Is there a contract? Please explain.