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1. Steve, while walking down the street, tells his friend Basili, I would seriously consider selling you my an-tique gold Longines watch for $1,000. Basili
1. Steve, while walking down the street, tells his friend Basili, "I would seriously consider selling you my an-tique gold Longines watch for $1,000." Basili does not answer. A month later, he writes Steve a letter stating that he accepts his offer to sell the Longines watch for $1,000. Is a contract formed? What is the effect of Basili's offer? Explain fully.
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