Boskett offered to sell a 1916 dime to Beachcomber Coins, Inc. Beachcomber examined the coin carefully and agreed to pay Boskett $500 for it. Later, Beachcomber asked a representative from the American Numismatic Society to examine the coin. The coin turned out to be counterfeit. No evidence existed to indicate fraud on Boskett's part.
Beachcomber sued Boskett for rescission and a return of the $500. Beachcomber claimed this bilateral mistake of fact created grounds for a rescission. Was Beachcomber correct? Explain.
Beachcomber Coins, Inc. v. Boskett, 400 A.2d 78 (NJ).