Bill Sells Some Old Books to Marion for a Small

question 19

Multiple Choice

Bill sells some old books to Marion for a small sum of money.A few weeks later,Marion discovers that the books are quite valuable,worth as much as $50,000.Bill seeks to rescind the contract.What is the most likely result?

• A) Bill may rescind the contract because of his unilateral mistake.
• B) Bill may rescind the contract because of the bilateral mistake.
• C) Bill may not rescind the contract because it is a mutual mistake of value.
• D) Bill may not rescind the contract because more than three days from the date of purchase have elapsed.

---

Definitions:

Potential Damage

Refers to the possible harm or losses that may occur as a result of an action or event.

Insurable Interest

A stake in the value of an entity or event for which an insurance policy is purchased, ensuring financial protection against losses.

Suit Against

This term generally describes the initiation of legal action or litigation by one party against another.

Common Carrier

A business or service that offers to transport goods or people for anyone willing to pay, under a regulatory or legal obligation to do so without discrimination.