Peter places an advertisement in the paper that says he will sell his car for $8,000. Giovanni writes to Peter in response to the advertisement and offers to buy his car for $6,500. Peter receives Giovanni's offer on March 3 and telephones him to ask whether he will consider increasing his offer. Giovanni tells him he will think about it. Matthew writes a letter to Peter, offering to buy his car for $7,000. Peter receives the letter on March 5. He writes back to Matthew the same day and tells him he will sell the car for $7,000. Matthew receives the letter on March 7 and writes back the same day advising Peter that he accepts the offer to buy the car for $7,000. Unfortunately, the letter is lost in the mail, and Peter never receives it. Giovanni writes to Peter on March 5 stating that he will pay him $7000 for his car by paying him $3,000 now and $4,000 in one month. Peter receives Giovanni's letter on March 8 and telephones Giovanni the same day to confirm that the payment terms are acceptable. Peter then receives a telephone call from Matthew on March 9 where he learns of Matthew's acceptance by letter dated March 7. Peter then tells Matthew he now wants $8,000 for the car. Is Peter bound to sell his car to either Giovanni or Matthew? Why or why not?