The court didn't care what the SteelCorp CEO intended to happen. They looked at what a "reasonable observer" would think. In this case, the price was so absurdly low that the court ruled Elias’s firm "constructively knew" it was a mistake.
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Here is a story that illustrates how these modern principles play out in the digital age. The Case of the Accidental Algorithm The court didn't care what the SteelCorp CEO
Modern law tries to balance the rigid rules of the past with the need for fairness in a high-speed, tech-heavy economy. The Modern Law of Contract