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At a trade show, a buyer and a seller negotiated for 500 tablets at $200 each, delivery the next month. The buyer shook the seller's hand and said, "I accept that deal. Send the invoice." The seller immediately declined another buyer. The first buyer later said he had privately intended to keep shopping for a better price.
Assume any Statute of Frauds issue is satisfied and only contract formation is at issue.
Was a contract formed?

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A contract was formed if a reasonable person in the seller's position would understand the buyer's words and conduct as assent to the stated deal. No contract was formed unless both parties later signed a longer memorialization. A contract was formed only if the buyer subjectively believed legal consequences would follow. No contract was formed because the buyer privately intended to keep negotiating.

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