A contract for a sale of land from Unique Properties,Inc. ,to Veritas Investments Corporation contains an erroneous legal description.The most appropriate remedy for these parties is

Question

Quizplus · Accepted Answer

The best remedy for an erroneous legal description is reformation, which is the modification or correction of a contract to reflect the true intent of the parties involved. The purpose of reformation is to make the written instrument conform to the terms intended by the parties. Damages would not be appropriate since no actual harm has been done, rescission would be too extreme as it would cancel the entire contract and specific performance is not applicable here.

A Contract for a Sale of Land from Unique Properties,Inc