I need you to write a report for something. You are required to analysis and answer the following questions:-
Martha M. Carr suffered from schizophrenia and depression. Schizophrenia is psychotic disorder that is characterized by disturbance in perception, inferential thinking, delusions, hallucinations and grossly disorganized behavior. Depression is characterized by altered moods and diminished ability to think or concentrate.
Carr was taking prescription drugs for her mental diseases. Carr, a resident of New York, inherited from her mother a 108 acre tract of unimproved land in South Carolina. Carr contacted Raymond C and Betty Campbell (Campbell), who had leased the property for 30 years, about selling the property to them.
Carr asked Campbell how much the property was worth and Campbell told Carr $54,000. Carr and Campbell entered into a written contract for $54,000. Campbell paid Carr earnest money. Carr subsequently missed the closing day for the sale of the property, returned the earnest money and refused to sell the property to Campbell. Campbell sued Carr to obtain a court judgement ordering Carr to specifically perform the contract.
At trial, evidence and expert witness testimony placed the value property at $162,000. Testimony showed that Campbell knew the value of the property exceed $54,000.
Does Carr, because of her mental diseases of schizophrenia and depression, lack the mental capacity to enter into the contract with Campbell?
Provide justification of your answer.