Daniel prepared to buy a gift for his grandma's 80th birthday. When he was reading a magazine, he was attracted by a jade bracelet offered to be sold at $5,000. The bracelet featured ten 8mm round green jade stones set in rose gold setting. Each stone was exquisitely designed with very good color and clarity. As his grandma is a jade stone lover, he believed she would like it. On lSt March, Daniel wrote a letter to Yolanda, the seller of the jade bracelet, stating 'I am willing to buy your jade bracelet at $5,000 and now write to accept your offer.' On 4th March, upon receipt of the letter, Yolanda replied to Daniel that 'I have just been advised by a famous antique dealer that this bracelet is worth at least $10,000. I want to know by 10th March whether you still want it if it is sold at $8,000.' On 8th March, a customer approached Yolanda and was willing to pay $9,000 for the jade bracelet. Thus, Yolanda wrote to Daniel that 'As I have not heard from you so far, I decide to sell the jade bracelet to another customer. Please disregard my letter of 4th March.' Although Daniel was very unhappy about the last-minute increase in the selling price, he did not want to upset his grandma. He finally agreed to buy the bracelet at $8,000 and posted the acceptance letter to Yolanda on 9th March. Yolanda's letter dated 8th March reached Daniel on 11th March, Whereas Daniel's letter dated 9th March reached Yolanda on 12th March. After reading Daniel's reply dated 9th March, Yolanda is confused and doubts whether she is obliged to sell the jade bracelet to Daniel at $8,000. REQUIRED: In relation to the law of contract, advise Yolanda as to her legal relations with Daniel from the perspectives of 'offer' and 'acceptance