Business, 06.07.2021 18:30 brianamarialove15

The State of Georgia enters into a contract with Treasure Salvors governing the salvage of a Spanish galleon that sunk in the 1600s. Under the terms of the contract, the salvagers agree to relinquish 25% of the items recovered to the State of Georgia in return for the right to salvage on state lands. At the time the parties enter into the contract, they both believe that the seabed where the ship lies is State land. Subsequently, the United States Supreme Court holds that the continental shelf on which the ship rests has never been owned by Georgia. The salvagers sue to rescind the contract. The contract:

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The State of Georgia enters into a contract with Treasure Salvors governing the salvage of a Spanish...