On June 1st, Maureen Sent a Letter to Joel That

On June 1st, Maureen sent a letter to Joel that offered to sell 10 000 shares in Tadpole Inc (a computer software company) for $5 each. Her letter did not require Joel to respond by any particular date. On June 3rd, Tadpole Inc publicly announced that its engineers had perfected a new technology that would revolutionize the electronic commerce industry. By June 4th, the price of a single share in the company had increased to $100. On June 6th, Joel returned from his cottage and learned of both Maureen's offer and the price of Tadpole Inc shares. He promptly sent a letter to Maureen that said, "I accept your offer. I will pay a total of $50 000 for 10 000 shares in Tadpole Inc." Maureen obviously no longer wants to sell her shares under the price that she quoted in her offer. Discuss the factors that a court would consider in deciding whether or not she and Joel had created a contract.