Fidelity Corporation offers to hire Ron to replace Monica, who has given Fidelity a month's notice of her intent to leave the company. Fidelity gives Ron a week to decide whether to accept. Two days later, Monica decides not to leave and signs an employment contract with Fidelity for another year. The next day, Monica tells Ron of the new contract. Ron immediately e-mails a formal letter of acceptance to Fidelity. Do Fidelity and Ron have a contract? Why or why not?