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You can say to the buyer that you made a genuine mistake and as such you do not consider there is a binding contract. There needs to be an offer, acceptance, consideration (i.e. money being paid) and intention to create legal relations. If the contract had concluded and they paid, it would be a different matter if you subsequently told the buyer you made the mistake - but at this stage no money has changed hands and you can cite "mistake" in contract law and tell the buyer there is no valid / binding contract in existence.
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I have seen my colleague has said, what else do you want to know?
Technically its a legally binding contract.BUT, nothing was in writing.
As such you can rely on the law of mistake. You made a mistake as to the price as per value.
You are not a business, you are a consumer. You are therefore entitled to resile from the mistake.
So yes, you can correct it.
The buyer is just blowing hot air and trying to bully you.
Can I clarify anything for you about this today, please?
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You do not need to do anything.
He is trying to bully you.
It shows that he does not know what he is doing as the rules say he must give 14 days notice !Does that clarify?
Yes. 14 days notice.