When parties to a contract are mistake about same material fact can contact be rescinded

Question

Deanna Frank

Law

23 December, 08:49

When parties to a contract are mistake about same material fact can contact be rescinded

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Answers (1)

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Joyce Morse · Answer 1

Mutual mistake / bilateral mistake is said to have occurred when both the parties of a contract are mistaken about the same material fact.

Explanation:

Material refers to fact or information which is central / required by both the parties of the contract. In this type of contract the entire agreement can be void by the court.