Question $5$

$1pts$

Jim wants to sell his bar, Two$-$Dollar Bill's. Jim discusses the potential sale to Joe. Jim offers to sell the bar to Joe for $$500,000.$ Joe rejects the offer. Later that week, Joe is discussing the offer with Mike. Mike is very interested in buying the bar. Mike calls Jim' and says that he accepts the offer to buy the bar for $$500,000.$ Is there a valid contract?

Yes. Mike accepted the offer.

Yes. Only if Jim's offer is in writing

No$.$ Jim's offer was not properly communicated to Mike

No$.$ Unless Jim's acceptance is delivered under a notary seal