Question

Susan drops by her neighbor Dean's garage sale and buys a painting for $10 that both she and Dean think is a copy of a piece by Matisse, a well-known painter. Later, Susan is delighted to discover that the painting is actually an original Matisse worth $50,000,000. Dean hears the news and wants the painting back. Will Dean be entitled to rescind the contract? Why or why not?

Answer 1

Dean probably will be able to get the painting back. A mutual mistake was made since both parties involved, Dean and Susan, made an important factual error. They both were convinced that the painting was an ordinary copy and that it was worth very little money. A mutual mistake makes the contract voidable by any party.