Mary bought a new Macintosh computer and advertised her old computer system for sale for $1500. Mr. Jones offered to pay $1000. Mary said no, that she wanted $1500. Mr. Jones offered $1250. Mary rejected that offer and said she wanted $1500, but then said, "I withdraw my offer, I've decided to give it to a school and apply for the tax benefit." Mr. Jones said, "All right, I'll accept your offer of $1500." Which of the following is true?
◦ There is a contract because at some point in time Mary was willing to sell and Mr. Jones was willing to buy the computer system for $1500.
◦ There is no contract because the last offer had lapsed.
◦ There is no contract because Mary revoked the offer before Mr. Jones attempted to accept it.
◦ There is a contract and Mr. Jones has to pay a reasonable price for Mary's old computer.
◦ There is a contract, because once a seller makes an offer she cannot change her mind; she is bound to receive an acceptance.
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