Dixon agrees to sell to Elmore,for $1,500,a remote parcel of land. They believe the land to be worthless,but beneath it is a shale rock containing oil. A court would

Question

Quizplus · Accepted Answer

The court would not rescind the contract because both parties made a mutual mistake regarding the value of the land, not the nature of the land itself. The mistake was about the land's worth, which does not typically warrant rescission.

Dixon Agrees to Sell to Elmore,for $1,500,a Remote Parcel of Land