Q.2. Eric wants to sell his house and advertises it in a local newspaper at 3,000, 000/, giving his telephone number. Fred sees the advertisement and being interested in buying a house at about that price rings Eric and makes an appointment to see the house. Fred likes the property but cannot agree a price with Eric, his highest offer being 2,900, 000/ while Eric insisted on 3,000,000/. On the following Monday Fred receives a letter from Eric offering him the house for 2,950,000/ and saying that Fred can have until noon on Friday to think about it. On Wednesday evening, Fred meets his brother Tom in the local town and Tom tells him that Eric's son in-law has bought the house earlier that day for 2,980,000/. Fred gulps down his pint , goes straight home and writes a letter to Eric accepting his offer to sell the house at 2,950,000/. He posts the letter immediately at the main post office in the town. Eric receives Fred's letter on Thursday morning but replies by return "You are too late, I have sold the house to my son-in law. Fred thinks that Eric is in breach of contract and proposes to sue him for damages. Advise Fred. (25 marks)