Explain why bni and carol do or do not have a contract

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Q. On May 1, Brand Name Industries, Inc. (BNI), sent Carol a letter, via overnight delivery, offering to employ her to audit BNI's financial statements for the present year for $10,000. In the letter, BNI stated which Carol had ten days to accept. On May 5, Carol sent BNI a fax which stated, "The price for the audit seems too low. Would you consider paying $12,000?" BNI received the fax. The next day, Dan offered to conduct the audit for $8,000. On learning of Dan's offer, Carol immediately e-mailed BNI, agreeing to do the work for $10,000. BNI received this e-mail on May 7. Explain why BNI and Carol do or do not, have a contract.

Reference no: EM1387488

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