In general, if there is an error in a contract and if the other party should have known of the error:
A) the contract cannot be enforced to allow one party to profit from a simple error
B) the contract will still be enforced so long as both parties had the chance to read the contract
C) some states will still enforce the contract
D) the state Supreme Court will have to decide if the contract should be enforced
E) none of the other choices are correct

Question

Quizplus · Accepted Answer

The principle of equitable estoppel applies in cases where one party should have known of an error in the contract but failed to correct it. This means that the contract cannot be enforced to allow one party to benefit from a simple error. Therefore, choice A is the correct answer.

In General, If There Is an Error in a Contract