Abbott and Costello are negotiating a contract. In a face to face conversation, Abbott agrees to sell Costello is two-foot plot of land for $450. Which of the following is correct? The contract is enforceable because it was less than $500 and does not have to be in writing. The contract is not enforceable because a price of $450 for the sale of land is unconsionably low. The contract is enforceable because of promissory estoppel. The contract is not enforceable because it was not in writing and signed by the party making the promise