Jason is looking to purchase a 52 inch television. His friend Michael owns an electronic store and offers to sell him a television set having the required screen size for a particular price. Jason decides to take some further time to decide and see if he can obtain a further reduced price from another outlet. He subsequently receives a letter from Michael requesting that he take delivery of the television within a period of 15 days and that he pay the relative price he had offered him.Required:

(a) Explain whether the offer made by Michael has all the requisites for it to be deemed a valid offer made to Jason. (5 marks)