Beachcomer a coin dealer sues to rescind a purchase by boske

Beachcomer, a coin dealer, sues to rescind a purchase by boskett, who paid $50 for a dime both parties thought was minted in San Francisco. In fact, it was a very valuable dime minted in Denver. Beachcomer asserts a mutual mistake of fact regarding the genuineness of the coin as San Francisco-minted. Boskett contends that the mistake was as to value only. Explain who should win.

Solution

Beachcomer should take back his sue(institute legal preceedings) to rescind(cancel) a purchase as Boskett admits the dime value. Infact, Beachcomer asserts a mutual mistake of measuring the dime value. Sue to rescind, was the approach used by Beachcomer to claim the Dime\'s value. So, if Beachcomer takes back the sue and settle the transaction mutually, then both are in a winning situation. If Beachcomer continues his stand to rescind and Boskett is ready to pay it\'s genuine value, then Boskett should win, as the transaction has already taken place.