Tom and Susan negotiate the sale and purchase of Tom's house. They reach an agreement and Tom's agent sets the agreement down in a detailed contract. Susan has second thoughts about buying Tom's house and refuses to sign. One week later Tom writes to Susan saying, " understand that you do not wish to proceed with our agreement. To resolve matters quickly. I am prepared to proceed on the same basis but will accept $5,000 less. If you wish to go ahead please let me have your cheque of $10,000 for the deposit." Susan replied: "I am prepared to proceed on the basis outlined in your letter. My cheque for the deposit is enclosed." Examine both the first and the second agreement between Tom and Susan to determine whether they complied with formalities? You are only required to discuss formalities. 8 lines