business law

Tony is a carpenter who needs to purchase a new electric drill. He visits Mary's Tool and Hardware Warehouse to look at the range of electric drills on display. As Tony enters the hardware store, he sees that on a table at the front of the store there are a small number of electric drills. Beside these drills, is a large sign that states: "The Buzz 4500 cordless electric drill. SPECIAL OFFER FOR TODAY ONLY: $250". A Sales Assistant walks up to Tony and asks him whether he needs assistance. Tony replies: "Not at all. I have found exactly what I want. That's an offer that is too good to refuse. I am definitely going to buy it." Tony then takes one of the Buzz 4500 drills over to the counter where Lisa, a checkout assistant, is serving another customer. Tony places the electric drill on the counter and while he is serving the other customer, he remembers that he saw the same drill at another hardware store for $199. By this time Lisa has finished serving the customer in front of Tony. She then says to Tony, "May I help you?" Tony replies: "I am really sorry, but I remember seeing this drill cheaper elsewhere so I don't want to buy it anymore." Lisa responds: "Sorry Sir, but I'm afraid that I've studied Business Law and it's too late to pull out. You have to buy this now because we have a formal agreement and you have accepted our stores offer by taking the drill from the table and making the statement to the Sales Assistant." Was a contract formed between Tony and the store