Stella and a representative from an apartment complex called Valley Pines enter into an oral lease agreement. By the terms of this agreement, Stella will lease a particular apartment for $18$ months and pay $$1,000$ per month in rent. The next day, however, the Valley Pines representative calls Stella to let her know that her rent will actually be $$1,200$ per month.

Why is Valley Pines not bound to the original agreement?

The agreement could not be completed within a year.

The agreement was for more than $$500.$

Valley Pines is not a merchant.