Marshal had run a successful plumbing business for 30 years but has now decided to retire. He placed an advertisement in the local paper describing his business for sale at a specified price. Marshal only heard from one person, Roman, who said he would only pay half the price Marshal had specified. Marshal responded by saying the business was no longer for sale.

Marshal then wrote three letters to his three main local competitors announcing he was retiring and would sell his business to either one of them who offered him, in writing, the highest price. He also stated he must hear from them, if interested, before 5 pm on Monday 22^nd March. He posted these three letters on Monday 8^th March.

David received his letter on the Thursday 11^th March and telephoned that night to discuss the sale with Marshal. The call went through to the message bank, so David left a message saying 'Call me as I am happy to buy your business' and left his name and phone number. Marshal called him back on Sunday afternoon and David specified a price at which he would be prepared to buy the business. David said he would think about it and get back to him.

Megamart, a business operated by Mitch, received its letter on the Friday 12^th March. Mitch discussed the matter with his family over the weekend and sent a letter on Monday 15^th March with a stated price to purchase the business. He also said that he was really interested so was prepared to go higher if necessary. In other words, he would meet any price higher than his.

BBazar, a business run by Edward and Mark in partnership, received its letter also on the Friday 12^th March and posted its reply that same day. Mark is married to Marshal's only daughter.

Megamart's letter was delivered to Marshal on Wednesday 17^th March, whilst BBazar' letter was delivered on Friday 19^th March.

The prices stated showed David's was the highest, then BBazar and then Megamart.

Discuss whether there is a contract between Marshal and either Roman, David, Edward and Mark (BBazar) or Mitch (Megamart). Discuss all essential elements of a contract, being agreement, intention and consideration.