George offers to sell Penelope a ring that George found in his yard.He and Penelope look at the ring and decide that they are not sure what it is,probably just a shiny stone.Penelope pays George $10 for the ring.The ring turns out to be a diamond worth much more than $10.George wants the ring back,and Penelope refuses.What is the most likely result?

Question

Quizplus · Accepted Answer

For a mutual mistake to interfere with legal consent, an adverse effect on a party who did not agree to bear the risk of mistake at the time of the agreement must be present. Here the parties agreed the value was unknown when the ring was sold.

George Offers to Sell Penelope a Ring That George Found