Caroline agreed to purchase organic hemp fabric from an Ontario manufacturer.While making an inquiry to purchase organic dyes from a Manitoba producer,she learned they offered a superior organic hemp fabric at a much lower price than the Ontario manufacturer.Knowledge of what legal principle would immediately let Caroline know she made a costly error?

Question

Quizplus · Accepted Answer

A) The principle that parties must be informed as to the adequacy of price, and that it is usually not open to challenge, would immediately let Caroline know she made a costly error by not researching more thoroughly before agreeing to purchase from the Ontario manufacturer. This principle implies that once a deal is agreed upon, the fairness of the price is not typically grounds for altering the agreement.

Caroline Agreed to Purchase Organic Hemp Fabric from an Ontario