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Valerie promised to buy Nicole's car for $2,000.Nicole drew up the contract providing that the exchange would occur the next week.Unfortunately,Nicole was not very good with the keyboard and typed in $1,200 as the price of the car.Valerie noticed that the contract said $1,200,not $2,000,and was very pleased.She signed it without saying anything.When it was time to make the exchange,Valerie gave Nicole $1,200.In response to Nicole's inquiry regarding an additional
$800,Valerie pulled out the contract and showed her that it said $1,200.Nicole immediately responded that she had made a typographical error.Valerie said that there was no mistake on her part because she knew exactly what she was doing and that she thought that Nicole had decided to give her a deal on the car.Which of the following is Nicole's best argument for a rescission of the contract?
Moral Obligation
A duty or commitment that is not legally enforceable but is based on ethical or moral considerations.
Preexisting Duty Rule
A legal principle that an existing obligation or duty cannot serve as consideration for a new contract.
Rescission
The act of canceling a contract, returning both parties to their pre-contractual situation.
Mutually Agree
A situation in which two or more parties come to a common understanding or consent on a matter.
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