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Is the deal you made an enforceable contract

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Reference no: EM133545212

Case Study: As a new sales representative for Misco Equipment Corporation, you take a customer out to dinner. Before dinner is over, you have shaken hands on a deal to sell the customer nearly a half-million dollars' worth of industrial equipment. In writing up the formal contract the next morning, you discover that you misfigured the equipment's price. Your error could cost Misco $60,000. You telephone your customer and explain the situation.

Questions:

• Is the "deal" you made an enforceable contract?

• Does the mistake you made permit you to get out of an enforceable contract?

• What do you think will happen in this situation?

 

Reference no: EM133545212

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