On May $1,2005,$ Pride & Property Realty Inc. mailed a written offer to SquadHelp, Inc. for the sale of an office building. The offer included an express term that it would expire on June $30,2005$ if the acceptance was not delivered into the hands of the offeror by the expiration date. On June $30,2005$ at $8$:$00$ a$.$m$.,$ SquadHelp sent a written $.$ acceptance to Pride & Property via SquadHelp's personal messenger. However, the messenger was not able to deliver the acceptance until July $1,2005.$ On July $2,2005,$ Pride & Property contacted SquadHelp, informing them that the acceptance had been delivered one day late. As a result, Pride & Property refused to honor the acceptance.

Which of the following is the most correct statement?

There is a contract between Pride & Property and SquadHelp. The moment that SquadHelp gave the acceptance to the messenger, a contract was formed because acceptances are valid immediately upon dispatch.

There is no contract between Pride & Property and SquadHelp.

There is a contract between Pride & Property and SquadHelp. The fact that the acceptance arrived only one day late is of no significance.

There is no contract between Pride &$.$ Property and SquadHelp. However. if SquadHelp would have malled the acceptance on Juhe $30,2005,$ a contract would have been created.