Crucial Exams

Multistate Bar Examination Practice Question

A buyer entered into a written agreement with a seller to purchase a rare painting for $50,000. Both parties believed the painting was an original work by a well-known artist. After the sale, the buyer discovered that the painting was a forgery, significantly reducing its value. The seller had no knowledge of the forgery at the time of the sale. The buyer seeks to rescind the contract, claiming that the mistake about the authenticity of the painting renders the contract unenforceable. Which legal principle best determines whether the contract is voidable?

  • The contract is voidable because both parties were operating under a mutual mistake of fact about the authenticity of the painting.

  • The contract is voidable because the seller failed to disclose that the painting was a forgery.

  • The contract is unenforceable because the buyer was mistaken about the value of the painting.

  • The contract is enforceable because the seller had no knowledge of the forgery at the time of the sale.

Multistate Bar Examination
Contracts
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