Zack decided that he would purchase a yacht with his first check. He really liked the navy Blue yacht that Richard owned. On March 1 2019 Zack sent Richard a fax, offering to buy the navy blue yacht for 10 million dollars. On March 5 2019 Richard replied by fax that he would sell it, but only for 12 million. On March 7 2019 Richard changed his mind and sent Zack a fax, saying that he accepts Zack's offer of 10 million dollars to buy the navy blue yacht. Zack faxed Richard and told him no, I am not going to buy it for 10 million dollars.Richard got mad and told Zack that since Richard had accepted Zacks offer, Zack had to pay 10 million for the navy blue yacht, or Richard would sue him for breach of contract. Zack chuckled to himself and thought, Richard does not know much about business.

THIS IS A TWO PART QUESTION- When Answering, do not repeat the question. Instead, just put the number 1 or 2 at the start of your answer to designate which question you are answering.

QUESTION: With regards to this fact scenario,

1.Identify and define two contract principles, (but you can't use offer or acceptance) and explain how they apply to this scenario. (20 points).

2.If Richard sues Zack, who would win? Explain your answer.