"Contract law is very important for all business transactions, and one of the key issues is determining whether an offer has been accepted or not. Traditionally, where parties have agreed that acceptance of an offer can be concluded via post, the contract is deemed to be accepted at the point the letter is properly addressed, stamped, and posted" (Kelly et al., 2021:98).

Consider the following scenarios involving David, William, Doris and Colm, and respond to the requirement below.

David decides to sell his 4x4 truck. On Tuesday, he parks it on his drive with a notice on both front and back windscreens stating the following: 'For sale. Excellent condition. Price: 6,500 or near offer (ono). Call at number 38 Chestnut Avenue or telephone number 01447898766 only. The first person to agree the price will get the truck'.

1. On Tuesday at 10.00 am, William sees the truck, but being late for an urgent appointment he telephones David from work at 12.00, and makes an offer of 6,100, which David says he would be considering. William tells David that he would consider the offer accepted unless he hears from David by 8pm that evening, to which David agrees.