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1.Consider the following scenario: Offeror: 'I will sell you my car for $10,000. Reply by Offeree: 'I will give you $9,000. Answer by Offeror: 'No

1.Consider the following scenario:

Offeror: 'I will sell you my car for $10,000.

Reply by Offeree: 'I will give you $9,000.

Answer by Offeror: 'No deal'.

Counter Response: 'Ok, I will give you $9,500.

Is there a valid contract formed under common law? Explain. (1 point)

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