Date: Mon, 19 Dec 2005 18:56:57

From: Michael Furmston

Subject: Snapping at bargains

I had assumed that it would be hard to persuade a common law judge that you did not know there was a mistake. The scale is, I think, 610000x610000 rather bigger than Hartog. The Singapore CA decision in Digilandmall is very much in point. The defendants offered colour printers worth $2000 for sale on the internet for $60. The 6 plaintiffs purported to buy some 700 printers on the internet and the seller’s computer appeared to accept the transactions. The court of appeal held that it did not believe the plaintiffs’ assertion that they did not realise that there was a mistake. The trial judge had flirted with the question whether constructive knowledge would do.

It is possible that the Tokyo stock exchange has draconian rules about automated trading. If anyone has the means to find out I would love to know.

Michael

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