Open Range Agrees to Sell Pinewood Ranch a Remote Parcel

question 13

Multiple Choice

Open Range agrees to sell Pinewood Ranch a remote parcel of land for $15,000. Both parties believe the land to be worthless, but beneath it is shale rock containing oil. A court would

• A)not rescind the contract.
• B)rescind the contract on the basis of a mistake of quality.
• C)rescind the contract on the basis of a mistake of value.
• D)rescind the contract on the basis of a mistake of opinion.

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