1. Steven is running a tag sale on his front yard. One of the items he has for sale is a vintage Vespa motorbike. Bruce sees the Vespa and asks Steven how much he wants for it. Steven tells Bruce that he can buy the bike for $600. Bruce says to Steven: "$600 is way too much for that old bike. I'll pay you $450 for it!\" Steven was so insulted by Bruce's comment that he didn't even reply to him. In fact, Steven rolled his eyes and then turned his back on Bruce. Bruce walked away and wandered down the street. Ten minutes later, Bruce returned and said to Steven: \"Okay, I accept your offer. Here's my $600. I'll take the bike with me right now.\" \"Not so fast, Mister,\" says Steven to Bruce, \"I wouldn't sell this bike to you if you were the last man on earth.\" \"Too late, buster!! I already accepted your offer. And that means we have a binding contract!!\" Have Steven and Bruce entered into a contract? a) Provide a clear statement of the governing black letter law and a citation to the textbook page/ section on which it is found. Steven rejected Bruce's offer for $450. Bruce came back after 10 minutes and accepted his $600 offer. Steven told him that he couldn't take the bike with him but Bruce says that its too late because he already accepted the offer. Basic principles of law that are accepted by the majority ofjudges in states. b) Apply the black letter law to these facts