Question: At 9 AM, Jennifer makes an offer to Theresa to sell to her own (Jennifer's) boat for $54,000. Theresa is unsure, so Jennifer includes in her offer to sell her boat that she will not revoke her deal until 3 PM that day. This offer is binding, she says. However at 1 PM, Jennifer sells the boat to Mitch. Mitch calls Theresa at 1:20 PM and states he bought Jennifers yacht At 2:30 PM, Theresa approaches Jennifer with the $54000 and accepts the irrevocable offer. What must Jennifer do? Also, explain why in these circumstances there is no option contract.