After extensive negotiation Bob agrees to sell Sally his office building for $100,000.00. He has his assistant type up the contract to send to Sally to sign. His assistant accidentally adds and extra zero in the price, making it $1,000,000.00 and sends it off. Sally too overlooks the mistake and signs the agreement. Later Sally requests that the contract be corrected to reflect their true intentions through a process called
A) Reformation
B) Rescission
C) Revocation
D) Reclassification

Question

Quizplus · Accepted Answer

Reformation is the correct process for correcting a written agreement to reflect the true intentions of the parties involved when there has been a mistake in the documentation.

After Extensive Negotiation Bob Agrees to Sell Sally His Office