Peter and Ray are riding their horses together. Peter jokingly tells Ray that Ray$$s horse is too slow. Ray laughs and jokingly responds, $$Yes$,$ he is too slow! I would sell him for $$5!$ Peter hands Ray $$5.$ This is

a valid acceptance because Peter gave Ray the money in a reasonable time.

a valid acceptance because there is consideration on both sides.

not a valid acceptance because Ray$$s offer was made in jest.

not a valid acceptance because Ray$$s horse is worth more than $$5.$