QUESTION 10 Max emailed Jacob offering to sell him a diamond ring for $400. Upon receipt of the offer, Jacob immediately

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QUESTION 10 Max emailed Jacob offering to sell him a diamond ring for $400. Upon receipt of the offer, Jacob immediately

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QUESTION 10 Max emailed Jacob offering to sell him a diamondring for $400. Upon receipt of the offer, Jacob immediately emailedback, “I don’t have $400. I’ll give you $300.” Max replied, “That’snot high enough.” Jacob then e-mailed his acceptance agreeing topay $400. Max refused to sell the ring to Jacob. Which of thefollowing statements is true?
A. There is no contract
B. Jacob's first response to Max is a counteroffer
C. Both A and B are true
D. There is a contract as Max accepted Jacob's offer
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