Final answer:
A court will likely reform the contract to reflect the actual intended price if both parties can prove there was a mutual mistake. Reformation is used to correct errors when both sides had a different understanding and intended a different contract term.
Step-by-step explanation:
If Edmund and Kaylin have a writing mistakenly showing a sale and purchase of goods for 10,000 when the price should have been 1,000, a court will likely reform the contract to reflect the actual agreed-upon amount if both parties can prove that this was a mutual mistake and not due to negligent or fraudulent behavior. Contract reformation is a remedy used to correct errors in a contract when both parties had a different understanding of the terms or a mistake was made that does not accurately represent the agreement that was reached.
This remedy allows the terms to be altered to reflect what both parties originally intended. In the scenario provided, if the error is indeed a clerical mistake and both parties had intended the sale and purchase to be for 1,000, then presenting evidence of this intent to a court may lead to a reformation of the contract to correct the price. It is essential in such cases that there is clear evidence of the mutual understanding and intent behind the contract at the time of agreement.