On February 1 of this year, Manufacturer sends letter to Acme offering to sell 1,000 " #16 blue aluminum screws to Acme for deliveryby May 1of this year for $450, and permitting/giving Acme 1 month to accept this offer. A few days later, Manufacturer quickly receives a letter from Acme titled "Acceptance," stating that "Acme accepts the terms of your offer letter and agrees to purchase 1,000 " #16 blue aluminum screws for deliveryby April 15of this year for $450." Assume all essential terms were included in the offer.

QUESTION: Has a contract been formed? Explain in detail and be sure to demonstrate your understanding of any relevant legal principle(s).

[Think carefully before you answer--pay attention to the dates and remember that the answer may depend on just which of these parties is sending and which is receiving.]