Using an IRAC type method, state the rule or law in a sentence. Then apply facts to the law in a sentence and follow with your conclusion.

On May 1, Brand Name Industries (BNI) sent Carol a letter offering to employ her to audit BNI's financial statements for the current year for $1,000. BNI stated that Carol had ten days to accept the offer in the letter. On May 5, Carol sent BNI an email that said, "The price is too low. I will do it for $1,200." BNI received and opened the email but did not respond. The next day, Dan emailed BNI and offered to do the current year audit for $900 before May 31st. BNI emailed Dan and replied, "We accept your offer. See you before the end of the month." Dan did not show up to complete the audit before May 31st. BNI then reached out to Carol and offered to pay her $1200 to do the audit. She agreed and conducted the audit on time.

1. Explain whether BNI and Dan do, or do not, have a contract on May 6th. (In your answer, discuss the four requirements of a contract and state whether the facts are relevant and meet each of the requirements.)

2. Can BNI sue Dan for breach of contract? Discuss what damages they could pursue.