After submitting the high bid at a foreclosure sale, Simon Davidson entered into a contract to purchase real property in Maryland for $192,000. Davidson defaulted (failed to pay) on the contract, so a state court ordercd the propcrty to bc resold at Davidson's cxpcnsc, as required by statc law. The property was then resold for $163,000, but the second purchaser also defaulted on his contract. The court then ordered a second resale, resulting in a final price of $130,000. Assuming that Davidson is liable for consequential damages, what is the extent of his liability? Is he liable for losses and expenses related to the first resale? If so, is he also liable for losscs and expenses related to the second resale? Why or why not? Submit a 1 page response answering the questions posed and supporting your answer with specific concepts and terminology from the materials. (25 Points) After submitting the high bid at a foreclosure sale, Simon Davidson entered into a contract to purchase real property in Maryland for $192,000. Davidson defaulted (failed to pay) on the contract, so a state court ordercd the propcrty to bc resold at Davidson's cxpcnsc, as required by statc law. The property was then resold for $163,000, but the second purchaser also defaulted on his contract. The court then ordered a second resale, resulting in a final price of $130,000. Assuming that Davidson is liable for consequential damages, what is the extent of his liability? Is he liable for losses and expenses related to the first resale? If so, is he also liable for losscs and expenses related to the second resale? Why or why not? Submit a 1 page response answering the questions posed and supporting your answer with specific concepts and terminology from the materials. (25 Points)