Question 6: Paul offered to sell Bill his iPhone for $1,000. Bill said the price was too high asked Paul if he would accept $800 for the iPhone instead. Paul declined. A short while later Bill returned and said he would accept Paul's price of $1,000. Paul has now changed his mind about selling his iPhone. Bill insists that Paul sell the iPhone to him at $1,000 given that Paul had made the offer earlier. Based on this brief scenario, which of the following statements is correct? (2 marks) A. Paul is obliged to sell Bill the iPhone since he had made an offer to him. B. Paul is not bound to sell the iPhone to Bill as Bill's counter-offer of $800 destroyed Paul's original offer. C. Paul is obliged to sell the iPhone to Bill since Bill, by suggesting a lower price, was simply asking for more information about the price of the iPhone. D. A legally-binding contract exists between Paul and Bill since Paul did not announce at the outset that the iPhone's price of $1,000 was not negotiable