BUSN 420 Week 3 DQ2 Distant Deal Making

This file of BUSN 420 Week 3 DQ2 Distant Deal Making comprehends:

Maria, who lives in Seattle, sent Koji a letter via first class mail, stating, "Koji, I think your 2003 Ford SUV is worth $20,000. I will give you $20,000 cash for it." Koji receives the letter, but believes his car isn't worth more than $14,000, due to the manner in which he drives the vehicle and due to the weather in Florida where he resides.
Maria's letter was mailed on Monday. When she didn't hear from Koji by Wednesday, she sent an e-mail on Wednesday afternoon with the same message, and asked whether he received it. Koji received Maria's letter on Wednesday, but did not receive the e-mail until Friday afternoon, due to server problems. In the meantime, Koji sent a fax late on Friday stating, "Are you sure you still want to buy my car for $20,000? I accept your offer."
On Saturday, after some research, Maria decided the Ford SUV was not worth what she thought. To make certain Koji would know this fact she sent Koji a letter via Federal Express stating, "Your SUV is not really worth $20,000." On Monday morning Koji received the Federal Express letter from Maria. Also on Monday morning, an hour later, Maria received Koji's fax at work.
Has a contract been formed here? Identify the stages of contract formation as they occurred in this scenario.

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