What is the definition of a 'legally binding document'?

This is specifically in relation to a sales contract, where the seller has calculated the price wrong and it is lower than it should be. The individual prices on the contract are correct, but the total is wrong. I have signed it with the lower total, but the seller now wants me to re-sign a new contract with correct prices. The contract says it is a 'legally binding contract', so does the seller have to honour the lower price?

Answers:
If the contract only had a total with one price, then the seller would be obligated to honor the price. Since the contract has individual prices that are added up to the total, then the contract would be considered void in a court of law as it has a calculation error, unless the total says that it has been discounted to be lower than the sum of the individual components.
i would certainly think so. speak to citizens advice.
Sure, but are you willing to sue the seller to enforce it, and risk a judge calling the suit frivolous.

You know full well that the individual prices were right, so trying to force the seller into the lower price due to a maths errors is just dirty pool. You need to retake "Business Ethics 101".
A legally binding contract is one that carries legal penalties should one or the other party forfeit.

If the seller signed the contract, then he is legally bound to honor the contract. However you might want to consider the value of keeping a good relationship with this guy and writing a new contract. As the guy above me mentions, it all depends on the judge -- some judges might toss out the suit simply because it's stupid to make a big deal over an error in addition.
This is a hard one. It's clearly a math error, since the correct values are on the top and there is no note of a discount. However that is the total you signed for. I think your best bet would be to call a law office that offers free consultation. They could probably help you better.
THIS IS NOT LEGAL ADVICE. IF YOU NEED LEGAL ADVICE SEEK ASSISTANCE OF AN ATTORNEY IN YOUR CITY OR STATE.

This is actually pretty straightforward. First a legall binding document, in this case a contract for sale/purchase of goods is one which clearly sets for the good to be sold/purchased; the price to be paid for the goods; the parties entering into the agreement; and optimally, the signatures of both parties. In your case it seems the unit prices are correct but the "math" is not correct. I agree with a prior posting which challenges your desire to go to court to force the seller to adhere to the "lower price" when the details clearly indicate the agreed upon prices. The fact you actually know and have acknowledged the listed unit prices are correct is enough, in the eyes of most, to consider such an action a frivolous suit. I also agree with the other poster who recommended a refresher on ethics. Come on! If the unit prices are right but the math is wrong the "real deal" is not in the final price but in the unit prices - in essence, that's where you did your bargaining. Pay the right price and move forward. Next time remember the lesson learned here: ALWAYS READ THE DOCUMENT before you sign it.

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