Problem: Nullah and Keira live in the small town of Lajamanu, Northern Territory which is 900km away from Darwin. They have three kids, Emma and Jemma who are twins, and Scott. Emma and Jemma are five years old, and Scott has just turned three. Emma's health was not going very well recently but when taken to hospital, the family is utterly shocked to know that she has been infected with a life-threatening virus and unless immediately treated, Emma's life cannot be saved. Emma needs to be airlifted and treated in a specialised hospital in Darwin. The out-of-pocket medical expense for this treatment is estimated to $30,000. Nullah and Keira are unable to borrow this money from any institutional lender as that will require a lengthy procedure to go through. So, they approached a rich neighbour Gridy and explained their situation to him. Gridy knows that Nullah and Keira have no asset except an antique car, market value of which is about $125,000. Gridy offered to buy the car for $40,000. Having no other option to fund Emma's lifesaving treatment, Nullah reluctantly accepted the offer. Emma has now recovered but the sale of their one and only asset, the antique car still hurts Nullah both financially and emotionally.
Required: (1)Do you think Nullah may have any ground under Contract Law to challenge the validity of contract with Gridy selling his antique car? In your answer, refer to any relevant case laws.
Do you think Nullah may take any action under the Australian Consumer Law (ACL) as well? If yes, identify and explain any relevant provision of the ACL. Important: Answers must refer to cases and legislation.