Answered step by step
Verified Expert Solution
Question
1 Approved Answer
10. Todd offers to sell Jacob his old snowmobile one day while they are at lunch together. Jacob says he will think about it. Once
10. Todd offers to sell Jacob his old snowmobile one day while they are at lunch together. Jacob says he will think about it. Once Todd gets home, he sends Jacob an email stating he will sell the snowmobile for $1500.00 to Jacob. Jacob immediately responds and says "yes.' A contract is formed. Immediately after, Todd realizes that he meant to type "$2500.00" instead of $1500.00. Todd is concerned about the mistake. He immediately notifies Jacob that he meant to sell the snowmobile for $2500.00 and he had make a mistake. Jacob would not agree to pay $2500.00 and stated that he ONLY owes Todd $1500.00 for the snowmobile. What is true: a. This is a bilateral mistake because both parties were mistaken about the price. b. This is a unilateral contract and Jacob only has to pay Todd once Todd delivers the snowmobile to Jacob. c. This is a unilateral mistake and the contract is enforceable for $1500.00. d. This is a unilateral mistake and the contract is still enforceable, but at the price of $2500.00
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started