Todd Offered in Writing on Monday to Sell His Desk

Essay

Todd offered in writing on Monday to sell his desk to Mike for $150.Todd's offer stated that unless Mike rejected Todd's offer by Thursday,it would be considered accepted.Mike did not reply until Saturday,when he rejected the offer and refused to buy the desk.Todd insists that Mike is bound to purchase the desk,since he did not reject the offer by Thursday.Discuss the validity of the contract and the legal obligation of Mike.