Calvin owns a race horse, Moe, that has lost 10 races in a row. Calvin is sick of losing and tired of taking care of the horse, so he loudly anriounces that he will sell Moe for $25. Susie hears this and tells Calvin that she will buy Moe for $25. Calvin says, "Immediately after the 2pm race- in which Moe is already obligated to run-I will take $25 and you can have the horse." to Calvin's surprise, Moe won the 2pm race. Susie approached Calvin to congratulate him and also to complete the sale, when Calvin said he no longer wanted to sell. Do Calvin and Susie have a valid contract? Why or why not? Yes. All the required elements of a valid contract are present. No. The contract is not valid because $25 is not adequate consideration for a race horse. Maybe. If a court finds that Calvin was serious about selling Moe, the consideration is more likely to be adequate. No. Calvin's offer was based on the presumption that Moe was a losing horse