Dallas unearths what he thinks may be a gem while he is working up a garden spot.He takes it to the local jeweler,who says he isn't sure until it is cleaned and polished,but he thinks it may be a semiprecious gem worth about $150.The jeweler offers to buy it,and Dallas is thrilled to sell for that price.If the jeweler later finds that the gem was really a precious gem worth ten times what he paid for it:
A) Dallas may rescind the contract of sale because of a mutual mistake.
B) Dallas may rescind the contract of sale because of a unilateral mistake.
C) the jeweler must contact Dallas to rescind the contract of sale or face fraud charges.
D) Dallas may not rescind the contract of sale. He knew there was uncertainty about the value of the exchange and accepted the risk.
Correct Answer:
Verified
Q23: In order to satisfy the statute of
Q24: Derek and Abyan were discussing business over
Q25: Which of the following would not be
Q26: Willis and Leslie orally agree to the
Q27: AAA and XXX companies are both major
Q29: E-mation entered into a contract with a
Q30: Which of the following is an example
Q31: Vicki entered into a written contract to
Q32: Richard and Danita are negotiating the sale
Q33: Betty wants to sell her car.If she
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents