The seller of a painting is bound by the sales contract if the painting purchased was considered of little value and only later discovered to be valuable to the surprise of both buyer and seller.

Question

Quizplus · Accepted Answer

The sales contract is a legally binding agreement and both the buyer and seller are expected to fulfill their obligations under the terms of the contract, regardless of any changes in the perceived value of the item. Once the contract is signed, the seller cannot back out if the item increases in value, and the buyer cannot demand a lower price if the item turns out to be worth more than they initially thought.

The Seller of a Painting Is Bound by the Sales