Legal Question in Business Law in New York
mistakes
if a numerical mistake occurs in an aggreement, for example a house is aggreed to be sold for 100,000 and by mistake the number is entered in the contract as one dollar, and it is not caught until after the closing what would the legal principle be to make things right.
thank you
Donald
Asked on 6/29/07, 11:00 am
2 Answers from Attorneys
Kristen Browde
Browde Law, P.C.
Re: mistakes
Mistakes, if mutual, void an agreement. However, most parties simply correct a typographical error and move on.
Answered on 6/29/07, 12:17 pm
Johm Smith
tom's
Re: mistakes
Unjust enrichment, void contract, and other equity based principles could apply here. But as Mr Browde wrote, paying the proper price agreed upon originally and changing the typo will resolve this without the need for litigation or attorneys.
Answered on 6/29/07, 3:11 pm
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