Merida agreed to buy from Wisp, Inc. a specially built loom for creating tapestries with a certain type of wool thread. Wisp faxed an invoice to Merida reflecting a purchase price of $60,000. The invoice required a 30% down payment prior to shipment. Merida paid the down payment. Wisp finished the loom and wrote Merida a letter telling her to pay the balance due or the down payment would be forfeited. By this time, Merida had lost customers for the tapestries and could no longer afford to pay the remaining balance. She asked for return of her down payment. Instructions: Consider the above fact situation and then discuss whether or not a valid and enforceable contract was formed. What factors would a court consider in making its decision? What do you think a court should decide?