Tara is a jazz singer who performs across the country. She lives in New York and is interested in buying a small nightclub downtown she can perform in. She has discussions with the club’s owner, Matt. Matt is the head of the New York Music Association and is well known throughout the industry. He also has a significant social media presence. Matt tells Tara he is willing to sell the club to her for $200,000. He also says he is going out of town in one week’s time and therefore needs her to accept his offer by Friday, after which the offer will end. Because he is rarely home, Matt tells Tara if she wants to accept his offer, she has to email him at his email address. Tara speaks with her banker to see if she can arrange for financing, and then decides to accept Matt’s offer. On Thursday, she calls and leaves a message on his voicemail telling him this. In the meantime, Matt has decided to sell the club to someone else and tells this to his friend Tony. Tony and Tara are friends, so Tony calls Tara and tells her Matt has decided to sell to someone else. Tara is upset and immediately writes to Matt to his email account, telling him she accepts his offer to sell the club to her.
Does a binding legal contract exist between Tara and Matt for the purchase by Tara of Matt’s nightclub? Why or why not?