In line with Canadian law, does a contract still exist when an offeror makes an offer to the offeree, and the offeree makes a counteroffer less than the offeror's offer? For instance, the offeror offered to sell the product at $5,000, and the offeree made a counteroffer of $3,500. The offeror rejected the counteroffer. Does the contract end at this point? Can the offeror increase the price after he declines the counteroffer made by the offeree?