(CASE ANALYSIS) In response to a radio advertisement, Mr. and Mrs Lancet telephoned Hollywood Decorators Inc., and arranged for Mr. Wolff, a company representative, to visit their home. During Wolff's visit, The Lancets signed a contract for interior decoration and paid a $1000 deposit. Two days later, the Lancet canceled the contract by telephone and asked that for the return of their deposit. Twelve days after that, the Lancet attorney wrote a letter to the company renewing the cancellation, Were they bound by the contract they signed? Why or why not?