Tom offers to buy Jenny's fishing tackle for $500, but she says she wants $600. Tom then proposes a price of $550, but Jenny says she is not interested. Tom is afraid she will walk away from a deal, so he says "OK. I'll accept your offer to sell for $600." Jenny says that she will think about it. Two months go by and Jenny calls Tom and says that she will accept the price of $600. Tom says that too much time has gone by and he has already purchased another fishing tackle. Jenny says that Tom has to stand by his offer and that they have a binding agreement. Who is correct, Jenny or Tom? Why or why not? Please discuss who made the final offer and whether the offer was accepted and if there is any liability owing from one party to another