Purcell was in failing health and advertised to sell his retail computing equipment business . Quentin was familiar with Purcell's business operations ; he sent Purcell a detailed offer to buy for $ 450 000 , paying $ 75 000 as a cash down payment , with the balance payable in instalments over two years . Purcell promptly sent an email to Quentin stating : " The price and all the other terms seem fair , except that I need substantially more cash by way of down payment say $ 125 000. Tell me how high you are willing to go . " Quentin replied by email , There is no way I can increase the cash payment . " Purcell replied the next day . " Okay . I've thought about it , and given the state of my health , I have decided to accept your offer . " By then , Quentin had heard that the business had suffered because of Purcell's declining health , and he refused to go through with the purchase . He asserted that since Purcell had refused his offer , there was no deal . Is Quentin right? Has Purcell any basis for claiming there is a binding contract with Quentin?