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Question
Paco Corp., a building contractor, offered to sell Roy several pieces of used construction equipment. Roy, engaged in the business of buying and selling equipment, accepted the offer. Paco's written offer had been prepared by a secretary who typed the total price as $10,900, rather than $109,000, which was the approximate fair market value of the equipment. Paco learned of the error in the offer and refused delivery of the equipment unless Roy agreed to pay $109,000. Roy has sued Paco for breach of contract. Which of the following scenarios is the likely outcome?
A. Paco will not be liable because there has been a mutual mistake of fact.
B. Paco will be able to rescind the contract because Roy should have known that the price was erroneous.
C. Roy will prevail because Paco is a merchant.
D. The contract is enforceable because Roy had accepted it.
Answer
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