Luis contractually agreed to sell a widget to Monica for $20 000. Monica accepted delivery of the widget, but has paid only $13 000. Although neither party realized it when they created their contract, the widget is actually worth $23 000. A court will order Monica to pay Luis

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The contract price was $20,000, and Monica has already paid $13,000. Therefore, she owes the remaining balance of $7,000 to fulfill the contract terms. The actual worth of the widget does not affect the agreed contract price.

Luis Contractually Agreed to Sell a Widget to Monica for $20