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A landowner gave a buyer a paid option to buy land. The option stated, "This option may be accepted only by written notice received by seller no later than 5 p.m. on June 30." The buyer mailed an acceptance on June 29. The seller received it on July 1.
Which statement is most accurate?

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The option was automatically extended because the buyer mailed acceptance before the deadline. The buyer accepted because option contracts do not require communication. The buyer did not timely accept if the option required acceptance to be received by the deadline and the seller received it late. The buyer accepted by silently deciding to buy before the deadline.

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