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.

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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.

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Answered on 6/29/07, 3:11 pm


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