On May 1,Brand Name Industries,Inc.(BNI),sent Carol a letter,via overnight delivery,offering to employ her to audit BNI's financial state?ments for the current year for $1,000.In the letter,BNI stated that Carol had ten days to accept.On May 5,Carol sent BNI a fax that stated,"The price for the audit seems too low.Would you consider paying $1,200?" BNI received the fax.The next day,Dan offered to conduct the audit for $800.On learning of Dan's offer,Carol immediately e-mailed BNI,agree?ing to do the work for $1,000.BNI received this e-mail on May 7.Explain why BNI and Carol do,or do not,have a contract.

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The Answer of On May 1,Brand Name Industries,Inc.(BNI),sent Carol a letter,via overnight delivery,offering to employ her to audit BNI's financial state?ments for the current year for $1,000.In the letter,BNI stated that Carol had ten days to accept.On May 5,Carol sent BNI a fax that stated,"The price for the audit seems too low.Would you consider paying $1,200?" BNI received the fax.The next day,Dan offered to conduct the audit for $800.On learning of Dan's offer,Carol immediately e-mailed BNI,agree?ing to do the work for $1,000.BNI received this e-mail on May 7.Explain why BNI and Carol do,or do not,have a contract.