Question: David writes Tom asking if Tom would sell his 2010 Mustang. Tom writes David back and says yes, he'll sell it to David for $15,000.00.

David writes Tom asking if Tom would sell his 2010 Mustang. Tom writes David back and says yes, he'll sell it to David for $15,000.00. David sends Tom a reply letter saying; "I'll give you $12,000.00." Tom does not respond. David really wants the Mustang, so he then writes Tom again, saying "O.K. O.K. I'll buy it for $15,000." Do they have a binding contract? Why or why not?

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