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D offered to sell his automobile to E for 5000$ cash. E responded to D's offer by saying I will buy your automobile for 5000$.

D offered to sell his automobile to E for 5000$ cash. E responded to D's offer by saying "I will buy your automobile for 5000$. i will pay you 2500$ now and 2500$ in 1 weeks time." Have D and E formed a binding agreement?

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