Problem
Miguel makes an offer to Ernesto Del La Cruz to buy his guitar for $499 on January 1. Miguel decides to revoke the offer on January 2 because he found out that Mr. De La Cruz stole all of Miguel's grandfather's songs and is an all-around bad guy. Miguel revokes the offer by a letter which he put in the mail to Mr. Del La Cruz. Mr. Del La Cruz receives the letter on January 4. However, on January 3, Mr. Del La Cruz sends a letter to Miguel accepting Miguel's offer.
a) You are the deciding judge. Is there a contract?
b) Explain the legal theory and concepts that apply to your answer above.