Smith offered to sell Jones his recently purchased Toyota Corolla for $24,000. Jones sent Smith an e-mail accepting the offer, but asked if he could pay Smith in 12 monthly installments of $2000 each. Smith did not acknowldege Jones's e-mail and instead sold his Corolla to White. for $23,000. Jones then purchased another Corolla for $27,000 and sued Smith for the $3,000 difference. a. Did Smith and Jones have a valid contract? If not, why not?
b. What, if anything, was Jone's e-mail (one word answer)? How did that affect the contract?
c. Did Smith have the right to sell the Corolla to White?
d. Will Jones receive the $3,000 he is suing for?