You are a collector of Martin guitars. You found one for sale that you thought w

Question

You are a collector of Martin guitars. You found one for sale that you thought was manufactured in 1954. You asked the seller, who had inherited it from his father, when it was manufactured. He replied that he did not know. The serial number was not legible so you could not check it out that way. You bought the guitar anyway, thinking it was a 1954 model. You subsequently found out it was manufactured in 1956, making it worth much less than you paid for it. Discuss any contractual remedies for mistake AND misrepresentation you might have against the seller.

Explanation / Answer

In contract law, misrepresentation can be of the following types:

In this case, however, there was no false statement made by the seller. On being asked about the make, he simply stated the fact that he did not know. So there is no scope of misrepresentation on the part of seller in this case.

Contractual mistake happens when a misperception induces a party to get into a contract. It can be of 2 types:

In this case, the mistake or misperception was on the part of the buyer. The seller was not at all involved in the misperception. Hence the seller cannot be sued for this misperception.

So, there are no remedial tools available in this case.

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