Final answer:
Option D) Peter agreed to pay Ace Computers Ltd. $50 above the contract price if the company would have his new computer ready on the date specified in the original contract is a binding contract.
Step-by-step explanation:
The binding contract would be option D) Peter agreed to pay Ace Computers Ltd. $50 above the contract price if the company would have his new computer ready on the date specified in the original contract.
In this case, Peter and Ace Computers Ltd. have a mutual agreement where Peter promises to pay an additional $50 if certain conditions are met. This agreement meets all the requirements for a binding contract, including offer, acceptance, consideration, and intention to create legal relations.
Unlike the other options, which may involve promises or agreements, option D) includes all the elements necessary for a legally binding contract.