Big Dig LLC makes an offer to perform an excavation and related tasks for Commercial Development Corporation, but due to a substantial mathematical mistake, significantly underprices the work. Commercial accepts the offer. Data Big’s best defense against enforcement of the contract is that Commercial knew: a. a bilateral mistake supports the cancellation of a contract.b. the price was below the prices of comparable services.c. a mistake of value supports the cancellation of a contract.d. a unilateral mistake supports the cancellation of a contract.

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27-11-2019
Business

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Big Dig LLC makes an offer to perform an excavation and related tasks for Commercial Development Corporation, but due to a substantial mathematical mistake, significantly underprices the work. Commercial accepts the offer. Data Big’s best defense against enforcement of the contract is that Commercial knew: a. a bilateral mistake supports the cancellation of a contract.b. the price was below the prices of comparable services.c. a mistake of value supports the cancellation of a contract.d. a unilateral mistake supports the cancellation of a contract.

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stokholm stokholm · Answer 1 · 2019-11-28T08:27:51+01:00

Answer:

b. the price was below the prices of comparable services.

Explanation:

In a market there are number of people providing the same services. Accordingly a fair rate for any service can be easily determined.

In the given instance, Big Dig made a fault by charging low fee as, that service demands particularly high fee.

Although Commercial Development Corporation can easily counter confirm the price of service in the market, and that it knows that the contract is certainly mistaken by Big Dig, it can and should ethically agree with the revised price, that is the correct price as per the prevailing market prices.