Answer in 900 wordS.

Vincent had heard that the owner of Jeffery Smart's I940 oil painting, \"Zinnias\

Vincent had heard that the owner of Jeffery Smart's 1 940 oil painting, "Zinnias", was thinking of selling the painting. Theo is the owner of the painting and is an art dealer. On 19 March Vincent wrote a letter to Theo saying: "Are you interested in selling the "Zinnias" painting by Jeffery Smart?" Theo received the letter on 22 March and replied that day by email: "Dear Vincent, I am interested in selling the "Zinnias" painting. I am willing to sell you the painting for $40,000. Regards, Theo" Unfortunately when sending the email, Theo misdirected it, and it was sent to Vincent's sister, Margot. On the evening of 24 March, Margot had been extremely interested in purchasing the painting, she had emailed Theo: "Dear Theo, I accept your offer to sell the "Zinnias" painting for $40,000, but only if you include its preliminary sketches. Regards, Margot" On 26 March Theo read Margot's email. Theo sent Margot a reply by email, saying: "Dear Margot, I advise that the price is $40,000 for the "Zinnias" painting alone." Margot read and received Theo's email on 27 March and replied: "l would purchase the painting for $39,000 and I will have the money ready in two days. On 28 March, Theo replied to Margot: "It's a deal. I will deliver the painting once money has been transferred into my account." Later that day, Theo wrote to Margot: "l did some research this afternoon. $39,000 is way under market value for the "Zinnias" painting. I am not selling at that price." Advise Margot whether there is a contract between Theo and Margot for the sale of the painting? In your answer. you must consider and apply any relevant decisions from any relevant cases you have studied.