Emmaline, a wholesaler, and Anh, a retailer, negotiate on the phone and agree to Emmaline sending Anh 100 microchips on Friday and Anh paying Emmaline $100 on Saturday. Emmaline ends the call, and the next day she sends Anh a memo that she signs stating, “per our p/c yesterday, 100 microchips, Friday, $100 Saturday.” Anh does nothing. The memo
has no effect because it is not signed by Anh.
is binding on both Emmaline and Anh.
has no effect because it is a memo and not a formal document.
is binding on Emmaline only.