James agrees to buy a small Picasso painting from Tanya for $300,000. Just prior to that, Tanya hired a reputable appraiser for a current valuation of the painting and showed James the appraisal document that justified that $300,000 sales price. Satisfied, James makes the $300,000 payment and takes his prized painting home. Shortly thereafter, he does some investigating, and learns that the painting was not by Pablo Picasso. Instead, it was drawn by Paulo Picasso, Pablo's son, and was worth only $5,000. James, now furious, wants to rescind the contract and get his money back from Tanya. 

Among James's possible arguments to get the contract rescinded, which one is best? Please explain your answer and rationale for choosing

The answer should be in an essay format, and when responding identify the legal issue in the question, briefly state the relevant rule, standard or legal requirements. Then apply the rules to the facts in the question. 

Answer rating: 100% (QA)

Legal Issue The central legal issue in this scenario revolves around whether James has a valid argument to rescind the contract with Tanya for the pur... View the full answer