Contract Rescission Legal Grounds

Summary

Bellas Fine Jewelry may rescind the contract based on unilateral mistake under Missouri law. The mistake involved a basic assumption, materially affected the exchange, and Bellas did not assume the risk. Sally knew or should have known about the mistake. Fraudulent misrepresentation is less likely as Sallys silence alone doesnt constitute deceit. Consider consulting a local attorney for detailed advice.

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Couldnt the contract also be unenforced through unilateral mistake if it was one of substantial mathematical error?
Yes, a contract can potentially be rescinded due to a unilateral mistake if it involves a substantial mathematical error, especially if the other party knew or should have known about the mistake.
In Missouri, the following factors are considered for rescission based on unilateral mistake:
- The mistake must be about a basic assumption of the contract.
- The mistake must have a material effect on the agreed exchange.
- The party making the mistake must not have assumed the risk of the mistake.
- The other party had reason to know of the mistake or caused it.
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does that apply to this case?
Yes, the information provided applies to this case. In Missouri, Bella’s Fine Jewelry could potentially rescind the contract based on unilateral mistake because:
- The mistake was about a basic assumption of the contract.
- The mistake had a material effect on the agreed exchange.
- Bella’s did not assume the risk of the mistake.
- Sally knew or should have known about the mistake.
Would you like assistance connecting with a local lawyer to explore this further?