The owner of a new building wanted four maple trees, each six metres tall, planted on the north side of the building. Lloyd Landscaper submitted his offer of four six-metre maples planted for $800. The owner said he would pay $600 for that. Lloyd said that for $600 he would supply four smaller, five-metre trees. The owner said, "$600 for five-metre trees plus a Christmas tree for my kids." Lloyd was disgusted and said, "Forget it. I don't need this job." As he was leaving, the owner said, "All right, I'll accept your offer of $600 for the five-metre maples planted." Lloyd kept on walking. Which of the following is true?
◦ There is a contract because at one point in the conversation Lloyd was willing to sell and the owner was willing to buy four trees.
◦ There is no contract because Lloyd's last offer had been rejected by a counter-offer.
◦ There is no contract because Lloyd's last offer was revoked.
◦ There is no contract because Lloyd's last offer had lapsed after a reasonable time.
◦ There is no contract because there is a presumption in law in these circumstances that the parties did not intend to create a legal relationship.
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