Final answer:
The court would likely use the principle of reformation to rewrite the contract to reflect the actual agreement of a 15% pay raise over three years, correcting the mistake made in the initial drafting.
Step-by-step explanation:
The principle under which the court will likely allow the city of Chicago to rewrite the contract is c) reformation. Reformation is a remedy provided by courts to correct a written contract so that it reflects the actual agreement or intentions of the parties involved. This remedy is applied when there is clear evidence that the written contract contains errors, such as a mutual mistake, which would impact the understanding of the contract's terms. In the case presented, the city intended to give teachers a 15% pay raise over three years, not immediately. However, due to an error by the lawyer in drafting the contract, it didn't accurately state the terms of the agreement. Therefore, the city would petition the court to reform the contract to ensure that it aligns with the mutual agreement reached during negotiations with the teachers' union.