Prof Denzil Carew decided to sell his home, Carew Towers, a large mansion in the Hudson Valley in upstate NY as he has moved to another state where he has entered into a contract to teach at Stanvard University. On Jan 1, he placed the following advertisement in an upmarket real estate advertising publication: Offer For Sale: Carew Towers, to the first acceptable purchaser for $5 million, minimum. Please send a letter to Prof Denzil Carew, 1 Carew Towers Anytown Dutchess County New York 12545 if you desire further details or to accept this offer. On January 12, Carew received a letter from Professor Yerac, the world's hindmost authority on International Commercial Disputes, that said: "I simply must have Carew Towers. I promise to purchase Carew Towers for $5.1 million. It is important to me that we close on February 2." On January 15, Prof Carew mailed Prof Yerac a letter that said: "I agree to sell Carew Towers to you under the terms mentioned in your letter received by me January 12, except that I will be out of town on February 2 so the closing will have to be on some other day you are available. Let me know." Yerac never received Carew's letter; although adequately addressed and postmarked, it got lost in the mail. On January 22, Carew's long-since divorced former wife, who had enjoyed living in Carew Towers much more than she had enjoyed being married to Prof Carew, left a message on Carew's WhatsApp; it said: "Hello, Denzil; this is your ex-wife. I heard you plan to sell Carew Towers. I will buy Carew Towers from you and pay $100,000.00 more than the highest offer you receive. Now write to anyone you received offers from and tell them Carew Towers is not for sale." On January 27, Carew wrote to Yerac and explained that although he had sent a letter on receipt of Yerac's offer, he has since had an offer to buy it from his ex- wife and feels obliged to accept her offer, and cannot go through with any deal with Yerac. Carew also wrote to everyone who had contacted him and let them know that Carew Towers was no longer for sale. On January 29, Carew's ex-wife was killed in an automobile accident. The Executor of her estate refuses to go through with the purchase of Carew Towers. Analyze the legal issues raised by the fact pattern and answer the following questions (1 and 2 are worth 7 points each, 3 and 4 are worth 8 points each)

1. Is Carew's advertisement an offer? Why?

2. Assume just for the purposes of this sub-question that Yerac's January 12 letter is an offer. Is Carew's January 15 letter an acceptance or a counteroffer? Why?

3. Assume just for the purposes of this sub-question that Carew's January 15 letter is an acceptance; do Carew and Yerac have a Contract? Why?

4. Assume Carew's ex-wife's January 22 message left on Carew's WhatsApp is an offer; do Carew and his ex-wife have a contract? Why?