(2 marks) You were interested in buying a rare Fender Telecaster 1954 electric guitar.They generally sell for about $5,000.You heard about a musician who had one for sale and who was in desperate need of rent money.You offered her $2500 cash for the guitar and she accepted the offer.You were to meet in a week to exchange the cash for the guitar.Two days before you were to meet her, you got a letter from a law school legal advice centre stating they were acting for the musician and there was no contract as the purchase price was for far less than the guitar was worth.Does the letter set out the law correctly?Explain with reasons