Answer:
Wibur cannot rescind the contract based on his unilateral mistake.
Step-by-step explanation:
Consider the provided information.
Wilbur types $40 instead of $400 in the reserve price box.
Wilbur does not notice his mistake until after the auction is over and someone has purchased his stamp collection for $75.
This scenario fall into unilateral mistake.
Unilateral error arises when the subject matter or the terms found in the contract agreement are misunderstood by only one party.
Here it is Wibur's fault that he types $40 instead of $400.
This is not a mutual mistake.
Therefore he cannot rescind the contract.
Wibur cannot rescind the contract based on his unilateral mistake.
