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[honi]

Last night we were scanning an online store for deals. To our amazement we came across a $200 Esso gas card that was priced at $2.50!! Clearly this was a mistake. However when we tried to purchase it, the sale went through. Our payment was taken from our account and we received a confirmation email detailing our successful purchase.
Today however, the 'store' sent an email saying they regret to inform us that the item was mispriced and they were unable to honour the transaction. The payment would be refunded to our account.
They have since adjusted the price online to reflect a 2.5% discount (as opposed to the $2.50 sale price).
Is there not some consumer protection law that says they have to honour the price as posted? There was no disclaimer indicating there was a mistake. The sale was accepted and processed. Payment was made in full. Had this been a physical store rather than a virtual one, I would have been home with my feet up before they realized the price was wrong. They would have no way of locating me and cancelling my purchase.
I live in Ontario, Canada and the online store is also based in Ontario.
Does anyone have a good understanding of Ontario consumer laws and can tell me if I have a right to my purchase? Or was this a case of "too good to be true"?

[jan46]

Last night we were scanning an online store for deals. To our amazement we came across a $200 Esso gas card that was priced at $2.50!! Clearly this was a mistake. However when we tried to purchase it, the sale went through. Our payment was taken from our account and we received a confirmation email detailing our successful purchase.
Today however, the 'store' sent an email saying they regret to inform us that the item was mispriced and they were unable to honour the transaction. The payment would be refunded to our account.
They have since adjusted the price online to reflect a 2.5% discount (as opposed to the $2.50 sale price).
Is there not some consumer protection law that says they have to honour the price as posted? There was no disclaimer indicating there was a mistake. The sale was accepted and processed. Payment was made in full. Had this been a physical store rather than a virtual one, I would have been home with my feet up before they realized the price was wrong. They would have no way of locating me and cancelling my purchase.
I live in Ontario, Canada and the online store is also based in Ontario.
Does anyone have a good understanding of Ontario consumer laws and can tell me if I have a right to my purchase? Or was this a case of "too good to be true"?

no they do not have to honor a mistakenly price item.

Basic Law 101: An advertised price is simply a solicitation for an offer, and is not a binding contract. If a shop advertises an item at a certain price and says it is a misprint, it is considered a unilateral mistake, and no court would hold them to the incorrect price.