Use This Fact Situation to Answer the Questions That Follow

question 101

Multiple Choice

Use this fact situation to answer the questions that follow. A has two Corvette Stingray automobiles,one built in 1965 and the other built in 2009.Generally speaking,both cars are worth approximately the same amount (about $70 000.00) .A now wants to sell the 1965 Corvette and to this end begins negotiations with B,who knows that A owns both a 1965 and a 2009 Corvette.In discussions with B,A says "I'm thinking of selling my Corvette for $65 000.00." B believes A is talking about his 2009 Corvette,so B says "I'll buy it at that price," and pays A the $65 000.00.Later A calls B asking him when he is going to pick up the 1965 Corvette.Having thought that he was buying the 2009 Corvette,B now tells A he wants his money back.
In this situation,

• A)only B has made a mistake,and he can seek rectification of the contract and get the 2009 Corvette from A.
• B)only B has made a mistake as to the subject matter of the contract,so he cannot get his money back if A delivers the 1965 Corvette.
• C)both A and B have made a mistake as to the subject matter of the contract,and the contract is voidable.
• D)both A and B have made a mistake as to the subject matter of the contract,and the contract is void.
• E)only A has made a mistake as to the subject matter of the contract,so B cannot get out of the contract so long as A delivers the 1965 Corvette.