Sonny is buying a computer system for his college's administrative functions. The negotiated price of the system is $475, 000. He receives a contract for $375,000 with no explanation as to the change and gladly signs it and sends it back to the vendor. He receives a phone call from the vendor explaining that in typing the figures into the contract, the secretary hit the 3 instead of the 4 on her keyboard. Sonny wants to hold the vendor to the contract. Is the contract legally binding on the contractor? Why or why not? What constitutes a valid contract?