Question 5 Chuck advertised his BMW car for sale at $200,000 cash. Charles came to accept the offer, but told Chuck he could only pay $100,000 cash and promised to pay the remaining $100,000 in two installments. Chuck said nothing. Shortly after, Don came to view the car, and told Chuck that if he (Don) hears no more from Chuck by the next day, he will consider the car as his for $140,000. Again, Chuck remained silent. Later that the evening, Eric came to view the car and told Chuck that $200,000 was "rather expensive". He asked if Chuck would accept $120,000 cash. Chuck rejected this. The next day, Fred came to view the car and after some discussion, agreed to Chuck's price of $200,000. Chuck sold the BMW car to Fred for $200,000. Charles, Don and Eric each believe they have a legally binding contract with Chuck, and as such are now contemplating legal action against him for \"breach of contract\". Required: Advise the parties of their legal positions with regards to contract law