Main Question:

Is there any case law (English law) related to the offeree accepting the original offer after their counter-offer was rejected by the offeror?

A sent an offer letter to B, ($1 mil)

B made a counteroffer, ($1.5 mil)

A called B told them that he was not interested,

B then accepted A original offer ($1 mil) by fax,

A did not respond to the fax sent.

Whether a binding contract exists? English Law