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Merle offered to sell her automobile to Violy for P60,000.00. After inspecting the automobile, Violy...

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Finance

Merle offered to sell her automobile to Violy for P60,000.00. After inspecting the automobile, Violy offered to buy it for P50,000.00. This offer was accepted by Merle. The next day, Merle offered to deliver the automobile, but Violy being short of funds, secured postponement of the delivery, promising to pay the price upon arrival of the steamer, Helena. The steamer however never arrived because it was wrecked by a typhoon and sank somewhere off the Coast of Samar.

Is there a perfected contract in this case? Explain

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