Harry Entered into a Contract with Sally in Which She

question 71

Essay

Harry entered into a contract with Sally in which she was to pay $50,000 for Harry's hunting cabin. All negotiations, witnessed by various third parties, stated the $50,000 figure as the sales price. When the contract was written, a typographic error was made indicating a price of $5,000. At settlement, Sally tendered $5,000 and demanded the deed in accordance with the written contract. Must Harry sell the cabin for $5,000?

---

Definitions:

Offer Accepted

The confirmation by one party to agree to the terms of an offer made by another party, leading to a contract.

Common Law

A legal system based on court decisions and customs, as opposed to statutory laws passed by legislatures.

Liability to Customers

The legal responsibility of a business to compensate customers for harm, loss, or injury resulting from its products or services.

Unfair Business Practices

Business practices designed to take advantage of consumer inexperience or ignorance.