Federal Insurance Corporation (FDIC) was selling all the real estate owned by Slippery Slope Investments, Inc. Irene Investor was interested in buying several of the parcels. Irene sent a letter to the FDIC offering to buy a certain parcel of the property for $100,000. Bobby Bureaucrat, an FDIC account officer, responded in a letter to Irenes attorney that FDIC is unable to accept Irenes offer. FDICs counteroffer is $130,000. All offers are subject to approval by the appropriate FDIC delegated authority. Irene filled in an FDIC purchase and sale agreement form to indicate a $130,000 purchase price, signed it and sent it to FDIC. Maury Manager, another FDIC account officer, responded that FDIC would not accept $130,000 for the property, but that Irene could submit another offer. Irene made no other offer and the FDIC refused to sell her the property. Irene filed suit against FDIC for breach of contract. What result and why?