NO VALID AND BINDING CONTRACT IS CONSUMMATED BY ACCEPTING BID WHERE CONTRACTING OFFICER KNEW OR SHOULD HAVE KNOWN OF PROBABILITY OF MISTAKE AND FAILED TO VERIFY BID. CONTRACT MAY BE RESCINDED SINCE CONTRACTING OFFICER WAS ON CONSTRUCTIVE NOTICE OF POSSIBLE ERROR IN BID AND NEGLECTED TO VERIFY BID. INC.: INVITATION FOR BIDS FOR JACKET 668-548 WAS ISSUED BY THE GOVERNMENT PRINTING OFFICE FOR THE PRO...

The successful bidder alleged that it made an error in its bid following award of the contract. No valid and binding contract was consummated by accepting the bid because the contracting officer was on constructive notice of the probability of a mistake in the bid due to the large variance in the prices of similar items and failed to verify the bid. Therefore, rescission of the contract was author...