As a new sales representative for MEC, you take a customer to dinner. Before the evening 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 day you realize you made an error when computing the equipment price. Your error would cost your company about $60,000. You telephone the customer and explain the situation.
Is the deal you made an enforceable contract?
Does the mistake you made allow you to get out of an enforceable contract?
What do you think will happen in this situation?