'HIvllvl' I Z hands over a written offer to sell his Rolex watch to X for R250 000. The offer is made to X only, and it sets out all the relevant terms for a contract of sale. Z signed the written offer as the seller. X and Y are best friends and they both sign the same document as buyers, as they want to purchase the watch jointly. X then hands the signed document to Z, who reads it. The next day Z finds a new purchaser (D) who immediately pays him R300 000 cash for the same watch. Z accepts this cash amount and hands the watch to D. When X and Y learn that 2 sold the watch to D, they approach you for legal advice. Do a detailed analysis and application of the offer and acceptance requirements and advise X and Y if they concluded a legally binding contract with Z. Discuss fully and refer to case law in your answer. Do not apply the Consumer Protection Act 68 of 2008. Your answer must not exceed two typed pages or three written pages. [20]