Enrique is a merchant-buyer in Miami. He contracts over the phone to purchase $6,000 worth of recording equipment from Elton, a merchant-seller in Los Angeles. Two days later, Elton emails a signed confirmation detailing the terms of the oral contract, and Enrique subsequently receives it. Twenty days later, Enrique notifies Elton in writing that he objects to the contents of the confirmation.

Is there a contract?

Why or why not?

Please state the legal theory you are relying on.