An auction house puts a painting up for sale, which they think to be Pablo Picasso's "Acrobat and Young Harlequin." A Japanese businessman purchases the painting for $50 million. The businessman appraises the painting for insurance purposes and discovers that it is a clever fake that is worth only a few thousand dollars. Which of the following statements is true of the scenario?
A. The buyer cannot rescind because the auction house did not intentionally mislead him about the authenticity of the painting.
B. The buyer cannot rescind because he was negligent; he should have investigated the authenticity of the work before bidding on it.
C. The buyer can rescind on the basis of mutual mistake.
D. The buyer can rescind on the basis of unilateral mistake.
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An auction house puts a painting up for sale, which they think to be Pablo Picasso's "Acrobat and Yo...
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