John wishes to sell his car. On 1 February 2011, he placed an advertisement in the Straits Times which provided details of the car, including its age, colour, model and condition. In addition, he also wrote, ‘Car will be sold to the first buyer who offers me $45,000. Sale price is valid for two weeks only. Tel: 67909999.’On 5 February 2011, John received a telephone call from Mary, who inquired about the car. She was responding to the advertisement in the Straits Times and she asked what was the highest offer he had received for the car. John replied that he had received an offer of $40,000 but would not sell it for anything less than $43,500. Mary made an appointment to inspect the car.After spending some time considering the price and value of John’s car, Mary decided that she would buy John’s car at his asking price of $43,500. On 12 February, she called John to let him know of her decision but this time he was not in. She left the following voicemail message for him, ‘John, I have thought it through and I am agreeable to your offer price of $43,500. Please call me back at my handphone 98909900 to make arrangements for the payment and transfer of the car.’John has now changed his mind about selling the car.Required:Advise Mary whether there is a binding contract for John to sell the car to Mary at $43,500. (10 marks)