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3. Annie says to Bob, I'll buy your car for $500. Bob says, 550!. Annie replies Ok, $550. Do they have a contract? Why or

3. Annie says to Bob, "I'll buy your car for $500." Bob says, "550!." Annie replies "Ok, $550." Do they have a contract? Why or why not?

4. Bob says to Annie, "You want my car? You can have it." "Annie says "Sure!" Do they have a contract? Why or why not? If there is no contract, is there anything else this exchange can be considered?

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