Nora enters into a contract with Oceanic Transport,Inc.,to insure and ship a painting from France to the United States for a certain price.But Oceanic makes a mistake in adding the costs,which results in a contract price that is $1,000 less than the true cost.Most likely,a court would
A)allow the parties to rescind the contract.
B)award damages to Nora for the mistake.
C)award damages to Oceanic for the mistake.
D)enforce the contract as is.

Question

Quizplus · Accepted Answer

A court would likely allow the parties to rescind the contract due to the mistake in calculating the contract price, as it was a mutual mistake affecting the essence of the agreement.

Nora Enters into a Contract with Oceanic Transport,Inc