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MMLU-Pro / 1722 / The owner of a parcel of land received the following letter from a buyer: "I…

Problem

Answer published by the source. Consult the official source to check your work against its answer.

question

The owner of a parcel of land received the following letter from a buyer: "I will pay you $2,200 an acre for [theparcel]." The owner's letter of reply stated, "I accept your offer." Unknown to the owner, the buyer had intendedto offer only $2,000 per acre but had mistakenly typed "$2,200." As both parties knew, comparable land in thevicinity had been selling at prices between $2,000 and $2,400 per acre. Which of the following states the probable legal consequences of the correspondence between theparties?
Plain-text mathematical notation (without MathML)
The owner of a parcel of land received the following letter from a buyer: "I will pay you $2,200 an acre for [theparcel]." The owner's letter of reply stated, "I accept your offer." Unknown to the owner, the buyer had intendedto offer only $2,000 per acre but had mistakenly typed "$2,200." As both parties knew, comparable land in thevicinity had been selling at prices between $2,000 and $2,400 per acre. Which of the following states the probable legal consequences of the correspondence between theparties?
Original LaTeX notation
The owner of a parcel of land received the following letter from a buyer: "I will pay you $2,200 an acre for [theparcel]." The owner's letter of reply stated, "I accept your offer." Unknown to the owner, the buyer had intendedto offer only $2,000 per acre but had mistakenly typed "$2,200." As both parties knew, comparable land in thevicinity had been selling at prices between $2,000 and $2,400 per acre. Which of the following states the probable legal consequences of the correspondence between theparties?

category

law

options

  1. There is a contract formed at a price of $2,400 per acre, as it is the highest price in the vicinity.
  2. There is a contract, but the price per acre will be determined by a third-party appraiser.
  3. There is no contract, because the parties attached materially different meanings to the price term.
  4. There is no enforceable contract, because the buyer is entitled to rescission due to a mutual mistake asto a basic assumption.
  5. There is no contract, because the buyer can argue that the price was a typo.
  6. There is a contract formed at a price of $2,200 per acre, but the buyer can renegotiate the price.
  7. There is no contract, because the parties have not met in person to discuss the deal.
  8. There is a contract formed at a price of $2,000 per acre, as it is the lowest price in the vicinity.
  9. There is a contract formed at a price of $2,000 per acre, as the buyer intended.
  10. There is a contract formed at a price of $2,200 per acre, regardless of the buyer's true intention.

src

ori_mmlu-professional_law

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Source and history

upstream_id / Original problem ID
1722
task_id
160c9ecb-cbfa-547a-8744-3685bb89ac55
task_key
default--test--1722
task_revision_id
1
config / split
default / test

Official source

initial import