FACTS:

Benjamin Franklin listed ten parcels of real property for sale. Benedict Arnold submitted written offers to purchase four of the parcels. Four printed purchase agreements were prepared and submitted to Franklin, with four earnest-money checks from Arnold. Writing on the purchase agreements, Franklin changed the price of one parcel from $1,750,000.00 to $2,000,000.00, the price of another parcel from $500,000.00 to $550,000.00, the price of another parcel from $22,000.00 to $35,000.00, and the price of the fourth parcel from $368,000.00 to $421,000.00. Franklin also changed the closing dates on all four of the properties, added a reservation of all coal, oil, gas, and mineral rights, within and underlying, the four parcels, and signed the purchase agreement.

Arnold did not sign the purchase agreements to accept the changes before Franklin withdrew his offer to sell. Arnold sued to compel specific performance of the purchase agreements under the terms of the agreements before Franklin withdrew his offer. The court granted Franklin's motion to dismiss Arnold's claim. Arnold appealed.

QUESTIONS:

Does a contract to convey real property exist between Franklin and Arnold?

If a contract does exist, what is the purchase price of the parcels of land?

ASSUMPTIONS/GIVENS:

The controlling jurisdiction applies the "mirror image rule" in analyzing acceptance of offers.