Mary Lou is acting as buyers agent under a signed buyer agency agreement. Mary Lou assists the buyer in preparing an offer to purchase, which the buyer signs. The buyer then immediately leaves town on business. Mary Lou presents the offer to the listing agent. The seller signs the offer without any changes, and Mary Lou is notified of the acceptance at 2:55 p.m. Mary Lou checks her voicemail messages at 5:00 p.m. and discovers that the buyer left her a message at 2:00 p.m. withdrawing his offer. Which of the following statements regarding this situation is true?

1.

The contract is voidable because the buyer withdrew the offer before it had been accepted.

2.

The contract became binding when Mary Lou was notified of the sellers acceptance.

3.

No contract was legally created because the buyer withdrew his offer before his agent was notified of the sellers acceptance.

4.

The contract is voidable because the buyer was not notified personally of the acceptance.