Shelby Wants to Sell His Bobcat Skidsteer for $21,000

question 72

Multiple Choice

Shelby wants to sell his Bobcat Skidsteer for $21,000. He e-mails Dave and offers to sell Dave the Bobcat. Due to a typo,Shelby tells Dave that he wants $20,100 for the Bobcat. Dave accepts the offer and pays Shelby $20,100. Shelby is

• A)not bound by the contract due to a unilateral mistake.
• B)not bound by the contract due to a bilateral mistake.
• C)not bound by the contract due to a mistake of value.
• D)bound by the contract.

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Definitions:

Problem Identification

The process of recognizing and defining an issue that impedes the achievement of a goal.

Too Much Information

A situation where an individual is overwhelmed by an excessive amount of data or facts, making it difficult to make decisions.

Information Overload

A condition where an individual or organizational capacity to process information is exceeded, leading to difficulty in understanding or making decisions.

Losses

Refers to the decrease in resources, value, or profits, often as a result of business activities, investments, or unforeseen events.