### Case Study: Contract Law ScenarioZelda wants to sell her old red truck. In an effort to sell it quickly, Zelda mails a letter to her long-time pal Maude offering to sell the truck to Maude for $15,000. Three days after Zelda sends that letter to Maude, Zelda’s boyfriend, Trevor, informs Zelda that the truck is actually worth $30,000! However, just minutes after Maude posts (i.e., puts in the mail) a letter with the postmaster accepting Zelda’s offer, Zelda calls Maude telling her the new price for the old red truck is $30,000.**Question:**Does Zelda have to uphold the deal and sell Maude the truck for $15,000?**Options:**1. No, the fair market value of the truck is $30,000 and that’s what Maude must pay for it.2. No, Zelda doesn’t have to sell to Maude at all, if she does not wish to do so.3. Yes, Zelda must sell the truck to Maude for $15,000.4. Yes, Zelda must still sell the truck to Maude, but at a price greater than $15,000 but less than $30,000.5. No, Maude must split the difference in price with Zelda and pay $22,500 for the truck.

This scenario involves an offer by Zelda to sell her old red truck to Maude for $15,000. However, shortly after sending the offer, Zelda realizes that the truck's actual value is $30,000. Despite this, Maude accepts the offer by mailing her acceptance to Zelda just moments before Zelda informs Maude about the truck's true value.In contract law, the basic principle is that an offer, once accepted, forms a binding agreement between the parties involved. However, there are exceptions and considerations to this rule, such as the concept of consideration and the offeror's ability to revoke the offer before acceptance.in this case:Zelda offers to sell Maude's car for $15,000.Maude accepts this offer by announcing her acceptance to Zelda before learning of the price change. Knowing the car's true value, Zelda attempted to rescind the offer by informing Maude of the new price. The important thing here is the moment of brand acceptance.If Maude had sent the confirmation email before Zelda withdrew her offer or was informed of the price change, Maude would have accepted the original offer, thus creating a contract between Zelda and Maude to sell the car for 15,000 $.However, if Maude had announced her offer after Zelda informed her of the price change, the initial offer would have been rejected and the contract would not have closed at the price of $15,000. The results therefore depend on when Maude will agree to deal with Zelda's attempt to rescind the initial request.If Maude had accepted the offer before being informed of the price change, Zelda would have sold the car for $15,000. Otherwise, if Maude accepts the offer after Zelda attempts to remove it or after learning of the price change, there may be no contract at the original price of $15,000.The correct answer to this scenario would likely be:"No, Zelda doesn't have to sell to Maude at all if she does not wish to do so."The critical factor here is the timing of Maude's acceptance concerning Zelda's attempt to revoke or change the offer. If Maude accepted the offer before Zelda communicated the change in price, then a binding contract might have been formed at the original price of $15,000. In that case, Zelda would likely be obligated to sell the truck for $15,000, as acceptance creates a binding agreement.However, if Maude posted her acceptance after Zelda informed her of the price change to $30,000, it could be argued that Zelda had effectively revoked the original offer before Maude accepted it. In this situation, there might not be a binding contract at the initial $15,000 price because Zelda had already withdrawn the offer or communicated a change in terms before Maude accepted.

Answered: Zelda wants to sell her old red truck.…