You are the CEO of Great North Fruit Company. Great North is well-known for its organic raspberries. Each basket of organic raspberries is sold at approximately $2,000. You ended negotiations with Richmond Jam and Jelly Co because you were insulted by the Richmond bid for your organic raspberries at $1,500 per basket for 10 baskets. Just before the harvest you found a buyer called Markham Bakery at $2,100 for each basket. Great North and Markham signed a written contract. However, once the trucks had been loaded and sent off, Markham called you to let you know that they would refuse the shipment as the Bakery had been shut down by a labour dispute. The berries will rot in three days on the trucks. The Richmond President is now on the phone to you with an offer of $1,100 per basket for the raspberries

What do you do and what principles of law are applicable? Define legal concept(s) and principles that might be relevant.