Tom offers to buy Jane's house for $200,000. The sign the contract, and closing is in 45 days. 15 days before closing Tom tells Jane that he now believes $200,000 is too much for the house and only wants to pay $180,000. Jane is upset, but decides to agree in writing to the changed date and price. The previous contract says nothing about amending the contract in this manner, but Tom agrees to pay cash this time and closing is moved up 7 days from the previous date.

Question 1: Is the second agreement enforceable as containing all the elements of a valid contract, i.e. offer, acceptance and consideration? Why or why not? Question 2: What damages might Tom be entitled to if Jane refuses to close the deal? Explain