T Offers to Sell a Camera to B for £120

T offers to sell a camera to B for £120, stating that this offer is to be taken as accepted if B does not indicate the contrary by 1 May. On 2 May, B replies: I wish to buy the camera for £100. T rejects this price. B then accepts the offer to sell for £120. At what point is a contract concluded, if at all?

A) There is no contract between the parties.
B) The offer was accepted on 1 May.
C) B's reply on 2 May constitutes valid acceptance.
D) B accepting the offer to sell for £120 constitutes valid acceptance.