Jim owns and operates a garden shop and landscaping business. In January 2023, he manages to procure a large number of old railway sleepers. These sleepers are highly coveted by many gardeners for use as decorative retaining walls, borders, and garden steps. As part of a marketing plan intending to increase customer loyalty, Jim sends a pamphlet to his regular customers telling them a special price for the sleepers.

Special Offer!

Top quality railway sleepers for sale. Ideal for retaining walls, borders, and garden steps. Special price of $100 for 5, while stocks last.

The weather, however, stays very mild for the time of year and Jim's landscaping business sales soar. By March sales are still high. Sam negotiates with his supplier for another load of sleepers. Due to high demand, these sleepers are more expensive.

Jim must sell them for $100 for 3 to make the same profit. Jim does not send out a pamphlet this time; instead, he places a sign on the sleepers in his yard that tells of the new price.

Prabal and Sonia, a newlywed couple have been saving up for landscaping their garden. They intend to enter a contest for the TV show "Home and Garden". They relied for their budget on Jim's pamphlet. When they arrive at Jim's yard and find a sign for the new price of the sleepers they are upset. The price would not allow them to finish their project in time for the contest. Prabal and Sonia show their pamphlet to Jim and demand the sleepers at a lower price, that is, $100 for 5.

Required: Relying on your knowledge of the law of contract, advise Jim as to whether he is bound by the lower price. Refer to relevant case laws, if any, in support of your answer. You do not need to consider Australian Consumer Law to form your advice.EXPAIN IN IRAC FORMAT AND REFRENCES