Answer to Question #340831 in Law for smith

Question

 

 

Amanda: I can pay about $2,000 per week for the space. - offer

 

Ben: Hmm I could lease it out for more. How about $2,500 a week with a 10% increase every year? – counter-offer

 

Amanda: That’s too much of a stretch for me. I can only pay $2,000 for rent per week. – not accepted- counter offer

 

Ben remained silent but went on to prepare the written lease, which provided that the rent was $2,000 a week for the first six months. In very small print on page 21 of 60, one of the clauses stated that starting on the 7th month of the lease, the rent would go up to $2,500 a week, with a 10% increase every year (Fair Trading). He then emailed the lease to Amanda on 5 February - “Please have a look. It’s all very standard and it contains our agreement basically. Send it back to me when you’re done”. - acceptance

 

Is there a binding contract between the two parties? On which terms?