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Wino has an extensive collection of vintage wines in her cellar which she had acquired through years of buying and selling wines. Wishing to raise
Wino has an extensive collection of vintage wines in her cellar which she had acquired through years of buying and selling wines. Wishing to raise some cash, she placed an advertisement in the February edition of Wine Drinkers Monthly offering to sell a case of 2010 Chateau Lafite-Rothschild for $12,000. Collector, who also buys and sells wines, saw the ad on February 10 and immediately telephoned Wino. During their conversation, Wino and Collector agreed that Collector would purchase the case of wine for $12,000, that Collector would pick up the wine from Wino on March 1, and that Collector would pay the purchase price at that time. The parties also agreed that if either party fails to perform under the contract the other party shall receive $5,000 as compensation. Immediately after the call concluded, Collector sent an email to Wino confirming the details of the sale. On February 11, Collector changed his mind and decided not to buy the wine. He sent the following email to Wino: "I have decided not to buy the case of 2010 Chateau Lafite-Rothschild for $12,000. Please consider our deal terminated." On February 15, Wino received a call from Drinker. Drinker had also seen Wino's ad in Wine Drinkers Monthly, and expressed interest in buying the case of Lafite-Rothschild. However, Drinker stated that he was short of cash and that he could only afford to pay $10,000 for the case of wine. Wino reluctantly agreed to sell the case of wine for $10,000, and to delive
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