Frank owes Jim $1,000. Frank contracts with Ron to pay the $1,000 and notifies Jim of the
contract by e-mail. Jim replies by e-mail that he agrees. After Frank receives Jim's reply, Ron and Frank send Jim an e-mail stating that they have decided to rescind their contract. Jim's rights underthe contract

1. vested when Frank and Ron formed their contract.

2. vested when Jim learned of the contract and demonstrated manifest assent to it.

3. will not vest, because Ron and Frank rescinded their contract.

4. could never vest, because Jim is an incidental beneficiary.