Gabriel Benoit a 60yearold successful businessman owned a building located at 45 Seneca Drive which housed his appliance business. On September 1st Gabriel mailed a letter to his nephew, Paul Benoit. In the letter, Gabriel said that he would like to sell his appliance business and the building it is in and thought that it was worth about $900,000 but that he would sell it to Paul for $700,000. He indicated that if Paul accepted this offer they could meet with Gabriel's lawyer to assist with the legal details. Paul was a very successful stockbroker, but he was tired of his job and wanted a change. Gabriel's letter reached Paul on September 4th and, delighted at the prospect of having his own business; Paul responded immediately drafting and mailing a letter back to Gabriel that same day, stating that he would accept the offer. He enclosed in the letter a cheque in the amount of $50,000 to demonstrate his sincerity. Because of a mishap with the mail, the letter did not actually reach Gabriel until September 12th. On September 8th, Samantha Swanson, an astute businessperson who owns several appliance stores of her own, met with Gabriel because she had heard that he wanted to sell his building and business. She had plans to expand her own business to this area and so she said to him that she would offer Gabriel $1,000,000 for his business and property, much more than market value. Gabriel was so thrilled, that he was speechless and, smiling broadly, he nodded his head while energetically shaking Samantha's hand. She said she would be around in several days to nalize the details. a. Is there a valid contract between Gabriel and Paul? (1 mark) b. There are three distinct legal principles involved in making this decision. List 2 out of the 3 and plain. (2 marks for each for a total of 4)