This contract is dated September 1, 2021. Whereas Jay is desirous of contributing the sum of $250 toward Mark's purchase of an iPhone Model X on or before December 25, 2021, the undersigned, Jay, hereby agrees to pay Mark the said sum of $250 on or before October 1, 2021. Executed this ist day of September, 2021 by: Jay Mark Which of the following is true: This is likely not a valid contract because of lack of consideration This is an option contract This contract is invalid under the statute of frauds This contract is invalid because there has been no communication of the offer to the offeree This is an implied contract, voidable by Mark This contract memorializes Promissory Estoppel