Scenario

On April 1, Mr. Guiseppi called Ms. Jafari, the president of Precious, offering to sell Lots 27 and 28 for $5.5 million. On April 2, Ms. Jafari called Mr. Guiseppi to accept the offer, and later that day, the parties entered into a written contract. The completion date for the transaction (i.e., the day when Precious would pay for the properties and Guiseppi would transfer the legal title to the properties) was May 15.

Question:

Precious wished to build on Lots 27 and 28 as soon as possible, so on April 2, it hired an architectural design firm to help them with the design of the development. On April 5, an employee of the architectural firm visited Lots 27 and 28 to get an exact measurement of their sizes. She measured the total size to be 104,564 square feet. Ms. Jafari was surprised at this number, as the contract she signed with Guiseppi had a term in it stating the following: The total size of Lots 27 and 28 is 108,100 square feet. A second company hired by Precious verified the architectural firm's measurements. Therefore, on April 11, Ms. Jafari called Mr. Guiseppi to tell him that, because Guiseppi has breached the contract with respect to the size of Lots 27 and 28, Precious is entitled to terminate their contract, and they would do so.

Is Precious correct here?