What was the result in the Peerless case referenced in the textbook in which there were two ships named Peerless and the parties disagreed over which ship was the subject of the contract?
A)The court rescinded the contract.
B)The court ruled that the older ship would be identified to the contract.
C)The court ruled that the newer ship would be identified to the contract.
D)The court ruled that the defendant would be allowed to choose which ship would be identified to the contract.
E)The court ruled that the plaintiff would be allowed to choose which ship would be identified to the contract.

Question

Quizplus · Accepted Answer

In the Peerless case,the contracting parties had agreed that the vessel Peerless would deliver the cotton they were exchanging.Unfortunately for them,there were actually two ships named Peerless! So,when the deal was made,one party had one Peerless in mind while the other meant the second Peerless.This was a mutual mistake,an error by both parties about a material fact pertaining to the contract.The times the ships sailed were materially different,so the court rescinded the contract.

What Was the Result in the Peerless Case Referenced in the Textbook