Elizabeth Covington has brought Michael Ferrell to court. Elizabeth Covington is seeking to get her card back from Michael Ferrell or in the alternative Elizabeth wants to recover the true value of the card ($80,000?).
You are Judge Wapner and you are presented with the following evidence:
Elizabeth Covington, who was sixty five years old when her husband died, needed as much money as she could muster, decided to have a garage sale. Her husband had a baseball card collection but Elizabeth knew nothing about baseball or baseball cards. She displayed the cards along with many other items. Michael Ferrell, an eighteen-year-old, who lived in the neighborhood, attended the sale. What caught his eye was the baseball card collection and, specifically what appeared to be a 1952 Topps Mickey Mantle rookie baseball card in near mint condition. On the outside of the box container was a sticker indicating "All cards $1 each." He couldn't believe his eyes. He had heard that a similar Mantle card had sold in 2006 for $72,000. He thought about telling Mrs. Covington the real value but decided against it and paid her the $1 and left. Later that month, while she was watching her favorite public television show, she saw Michael asking the antiques expert to estimate the value of the card. The expert said that even in a tough economy the card would likely bring $80,000 at public auction. Elizabeth was heartbroken; not only had she sold her husband’s personal belongings (which she had come to regret), but she knew that this one card could have “paved the way” for a more financially secure retirement. If only she had known…
What is your decision and the reasoning underscoring your decision.
Please include any legal argument that can be presented by either side.