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Can a holiday company cancel a paid for holiday because they charged the wrong price?

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H-S | 07:54 Thu 08th Sep 2011 | Travel
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We booked a holiday with Direct Holidays for £350 each (7 nights, half board) we thought it was a good price but not the cheapest we've ever had, so we didn't think there was a mistake with the pricing. The next evening we had a call from the company saying they are cancelling our holiday and refunding the money back to our card because the price was wrong and it's too low.

We're obviously very unhappy with this as they've surely entered into a contract with us by accepting the booking and taking payment. They then said that as we ticked the terms and conditions and there is a clause that states that the company can change the prices that they are allowed to do so. It just seems so unfair and where is the customer protection if once you've bought something the price can always be changed, is there any protection offered in the Sales of Goods and Services for example.

Any advice would be welcome. Thank you.
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Can a holiday company cancel a paid for holiday because they charged the wrong price?

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