Real Estate Principles 3rd Edition by David Ling,Wayne Archer

Exercise 2

The owner of a parcel of land containing approximately 25 acres contracted a debilitating disease and decided to sell his real estate as quickly as possible. Within a week, he received an offer of $32,250. The owner accepted this offer by signing a standard form contract that had been obtained and prepared by the buyer. Soon after, when the owner's family discovered the situation, they convinced him that he had sold the land at much too low a price and he should not complete the transaction.
The owner commissioned an appraisal that showed the land to be worth $46,000, a difference of $550 per acre between the contract price and the property value. He then refused to attend the closing and to deliver title to the buyer. The buyer sued the owner for damages in the amount of the difference between the property value and the contract price ($13,750). The buyer contended he had a valid contract and he was damaged by the owner's unwillingness to complete the transaction. The seller contended he was not of sound mind when he signed the contract and the price was so ridiculously low, the contract should not be enforced.
Identify the issues the court probably would consider in deciding whether or not to enforce the contract.