This question should be answered in an IRAC format. Please include all relevant keywords, terms, and phrases when discussing each topic.
Katie is a purchasing agent for Clothes [a clothing store]. She negotiated a contract with Bikini Co. to purchase a specific number of Bikinis at $75,000. When Tania, president of Clothes, learned of the contract, she called Katie into her office and said she was so pleased with her deal that she would be promoted to manager of Clothes’ NY store. One week later, on 12/3/97, Katie got a call from Stanley, VP of Bikini Co., who said that Bikini’s sales rep made an error in calculating the contract price, and as a result, Stanley said that unless Clothes agreed to pay an additional $15,000, Bikini Co. would not deliver the garments. Katie told Tania of the mistake and Tania reluctantly authorized Katie to make the payment of the additional sum.
Assume that Katie should have known that Bikini Co.’s original price of 75 grand was an error, but she still accepted. Is there an enforceable contract and why or why not?
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What kind of mistake are we dealing with here? What are the elements required to prove it and are they present here?
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