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Harry has two houses, a house on the lake and a house in town. Rebecca...

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Accounting

Harry has two houses, a house on the lake and a house in town. Rebecca wants to buy the house on the lake. Harry and Rebecca orally agree that Rebecca will buy the house on the lake for $300,000, plus $10,000 more for a vacation paid by Rebecca. Harry hurriedly writes out a contract providing that he would sell "his lake house" to Rebecca for $300,000, that Rebecca will pay him $10,000 for a vacation, and Harry signs the top of the document and notes it is "our total deal". Rebecca signs as well. Harry backs out of the contract, and Rebecca sues him. He wants to tell the judge that there is no deal because the house is worth much more than $400,000, and because he says Rebecca told him she would give him $30,000 for a vacation if he would sell the house.

Is there an enforceable contract here? In your answer, note the elements of an enforceable agreement.

If there is a lawsuit, what will the judge say about Harry's argument that the house is worth more than $400,000, and can Harry testify that Rebecca said she would give him $30,000 more? Why or why not? Make sure to answer each question.

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