Myra owns a house, which she advertises for sale for $400,000. On May 1, Nico offers Myra $380,000 for the house. On May 5, Myra has delivered to Nico at his office a form that includes additional terms but does not state a price. At 9 a.m. on May 6, Nico signs the form and gives it to Odell, his administrative assistant, with instructions to mail it. At 10 a.m., Myra calls to tell Nico that the deal is off. The next day, Odell mails the signed form to Myra. When she refuses to sell the house to Nico, he files a suit against her, alleging breach of contract. Myra claims that there was no contract. What are arguments supporting each party's position? What is the court likely to rule? Explain.
This question was asked on Apr 23, 2010 and answered on Apr 23, 2010.
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