BU231 Lecture 21: Page-2
Document Summary
Words used inadvertently: if, in the circumstances, it was reasonable for the second party to rely on them and enter into the contract, then the terms of the contract are binding, eg. Cecil accidentally counter offers with 1250 instead of 2150, doesn"t realize error until acceptance is already drafted, webster sues to enforce the contract. Court concluded that no reasonable person could have believed such an offer to be made intentionally: remedy is not complete, and is consequently voidable, meaning no protection from third party"s (punishes stupidity!) Errors in recording an agreement (transcription: two parties reach an agreement in some form (orally, roughly written) but the final form does not accurately reflect the original statement. Term may have been left out or figures may be wrong: party claiming that the arrangement was improperly recorded may ask the court for rectification of the contract if they meet the following qualifications.
