Question:
A geologist buys a "rock" from an inexperienced sales clerk at the Crystal and Mineral Shop for $35.00. Shortly thereafter the rock is determined by experts to be an uncut gemstone that, when cut, could be worth an estimated $1.5 million. The experienced, long-time owner of the Crystal and Mineral Shop seeks to rescind the sale. What is likely outcome? Using contract principles, explain how you reached your decision.