On September 27, Summers sent Fox a letter offering to sell Fox a vacation home for $150,000 . On October 2, Fox replied by mail agreeing to buy the home for $145,000 . Summers did not reply to Fox. Do Fox and Summers have a binding contract?
a. No, because Fox failed to sign and return Summers's letter.
b. No, because Fox's letter was a counteroffer.
c. Yes, because Summers's offer was validly accepted.
d. Yes, because Summers's silence is an implied acceptance of Fox's letter (Law, #2, 0462).
.B
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