Fidelity Corporation offers to hire Ron to replace Gabrielle, who has given Fidelity a month’s notice of intent to quit.

Fidelity gives Ron a week to decide whether to accept. Two days later, Gabrielle signs an employment contract with Fidelity for another year. The next day, Gabrielle tells Ron of the new contract. Ron immediately sends a formal letter of acceptance to Fidelity. Do Fidelity and Ron have a contract? Why or why not?