Hunt and Bob (the builder) are discussing a building project that Hunt would like to hire Bob to complete. During their negotiations, they each make statements that are somewhat ambiguous. When they leave the meeting, neither are quite sure whether they have formed a contract and, if so, what the terms might be. Answer the questions after each statement to explain the legal effect of the following: 1. Hunt said to Bob, "I would like to hire you to build me a pool house. I think it should cost around $10,000." Is this a valid legal offer? If Bob accepts right now, are the two bound? Why or why not? 2. Bob replied to Hunt, "Is $10,000 the most you will pay for a pool house?" Assume Hunt's statement in the previous question did constitute a valid offer - is Bob's reply a rejection? Why or why not? 3. Bob then said, "I couldn't do it for less than $15,000," to which Hunt replied, "OK, I accept. Get to work." Is Bob's statement an offer and was it accepted? Why or why not? 4. Bob, being confused, finally said, "Look, I can build you a pool house before Memorial Day - consisting of one room with finished walls, a finished bathroom, a shingled roof, siding and windows for $15,000." Hunt responded with, "Great, I accept, but only if you paint the interior walls too." Hunt and Bob then left their meeting before Bob could respond to Hunt's last statement. After this exchange, do the parties have an agreement? Why or why not