8. Vincent agrees to sell his beloved manor house in upstate New York for $1.5 million to his dear friend Mildred, closing on September 1. Mildred promptly gets the house appraised, at a cost of $5,000, and discovers that it is really worth $1.9 million. She also learns that she can acquire a 25-acre parcel of property next to the manor house for a great price -- $350,000. If she combines the manor house and its land with the new parcel of property, and builds a horse stable on the new parcel for $100,000, the appraiser says that the combination would be worth $2.7 million. Mildred promptly pays a $15,000 option fee on the neighboring 25-acre parcel, giving her the ability to exercise the option through August 20. Mildred then hires an architect to begin designing a horse stable, at a cost of $10,000. On August 20, Mildred signs a purchase agreement for the 25-acre parcel. On August 25, Vincent anticipatorily repudiates. Assume that Mildred sues Vincent and wins on liability. What are Mildred's likely recoverable damages? A. $1.2 million B. $1.55 million C. $420,000 D. $400,000 E. $760,000 10. A farmer who wanted to sell her land received a letter from a developer that stated, "I will pay you $1,100 anacre for yourland." The farmer's letter of reply stated, "I accept your offer." Unbeknownst to the farmer, the developer had intended to offer only $1,000 per acre but had mistakenly typed "$1,100." As both parties knew, comparable land in the vicinity had been selling at prices between $1,000 and $1,200 per acre. A. There is no contract, because the parties attached materially different meanings to the price term. B. There is no enforceable contract, because the developer is entitled to rescission due to a mutual mistake as to a basic assumption of the contract. C. There is a contract formed at a price of $1,000 per acre. D. There is a contract formed at a price of $1,100 per acre.