Principle: An offer made by one party when accepted by another makes it a contract.

Transactions:

1) P offered to sell his house for Rs. 20 lakhs to R; R told P that he was interested to buy a house for 15 lakhs

2) C was looking for a house for not more than 25 lakhs; P informed C that his house was available for 20 lakhs.

3) K wanted to buy some old furniture; L told K that he would sell his furniture for Rs. 10, 000.

4) R advertised to sell his old car for a price of Rs. Three lakhs; S found the advertisement and offered to buy it for Rs. 2 lakhs 50 thousand; R agrees to sell it to S.

Which among the above is actually a contract?