A contract for a sale of an apartment complex from Unique Properties, Inc., to Variety Investments Corporation contains an erroneous legal description. The most appropriate remedy for these parties is

Question

Quizplus · Accepted Answer

Reformation is the most appropriate remedy in this situation because it allows the parties to correct the error in the contract by modifying the legal description to accurately reflect the property being sold. This remedy is often used in cases where there has been a mistake or misunderstanding in the drafting of the contract, and it allows the parties to move forward with the sale as intended. Damages, rescission, and specific performance are not appropriate remedies in this situation, as none of them address the issue of the erroneous legal description.

A Contract for a Sale of an Apartment Complex from Unique