Question $4($Mandatory$)(2$ points$)$

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An auction house put a painting up for sale, which it believed and represented to be Pablo Picasso's "Acrobat and Young Harlequin." An anonymous Japanese buyer also believed that the work was this painting and bought it for $$50$ million, the highest price ever paid at auction for a $20$th century work of art. Some time later the buyer had the painting appraised for insurance purposes, and the appraiser discovered that it was a forgery worth only a few thousand dollars. The buyer wants to rescind on the basis of mistake. Which is a true statement?

The buyer cannot rescind because his mistake was negligent$--$he should have investigated the authenticity of the work before bidding on it$.$

The buyer can rescind on the basis of unilateral mistake.

The buyer cannot rescind because Christie's did not intentionally mislead him about the authenticity of the painting.

The buyer can rescind on the basis of mutual mistake.