Traditionally, which contract is not voidable or void because of mistake? Subcontractor submitted a $1,000 bid to Contractor. Contractor knew that Subcontractor had made a mistake and that the bid should have been $10,000. Contractor accepted the bid thereby forming a contract. Seller contracted to sell some land to Buyer containing tons of timber. Seller and Buyer both mistakenly thought that the timber on the land still existed, however, it had been destroyed by a flood.lopments, but they were wrong. Wayne contracted to sell his business to Betsy. Wayne and Betsy both expected that the business would make a profit after Betsy purchased the business, but they were wrong. Holly contracted to sell a cabin to Rob. Both parties mistakenly believed that the cabin still existed. In fact, a fire had destroyed the cabin the previous night.