Owen owns a farm. Bennett wants to buy it. Bennett and Owen negotiate over the telephone and finally Owen offers to sell the farm for $100,000. Bennett says that the price sounds fair, but he wants 30 days to think about it. Owen orally agrees to give Bennett the 30 days. Then, after 10 days, Owen calls Bennett up and tells him he's changed his mind and won't sell the farm after all. Bennett then sends Owen a written letter, signed by Bennett, accepting the offer and demanding that Owen sell him the farm.

What are TWO legal reasons why Bennett will lose in a lawsuit?