Philip wants to sell his house and advertises it in the local newspaper at £370,000, giving histelephone number. Jim sees the advertisement and rings Philip and makes an appointment to see thehouse. Jim likes the house but cannot agree a price with Philip, his highest offer being £367,000,while Philip insists on £370,000. On the following Monday Jim receives a letter from Philip offeringhim the house for £368,500 and saying that Jim can have until noon on Friday to think about it. OnWednesday evening Jim meets his brother Garrett in their local. Garrett tells him that Philip’s son-in-law bought the house earlier that day for £367,000. Jim goes straight home and writes a letter toPhilip, accepting his offer to sell at £368,500. He posts the letter immediately and Philip receives iton Thursday morning, but replies by return saying “You are too late. I have sold the house to my son-in-law.”Questions:a. In what case is the offer considered as void and revocation can be made? (10 Marks)b. What are the criteria that should be followed for the agreement to be done? (10 Marks)c. In your view, what is the analysis of the above case study? (10 Marks)