Define "mistake," "mutual mistake," and "unilateral mistake." Explain how the law treats mutual and unilateral mistakes
A mistake is a belief that is not in accord with the facts. Mutual mistake occurs when both parties are mistaken as to the same set of facts, and unilateral mistake occurs when only one of the parties is mistaken. If a mutual mistake relates to a basic assumption on which a contract is formed and it has a material effect on the agreed exchange, it is voidable by the adversely affected party unless that party bears the risk of the mistake. Courts are hesitant to grant relief for a unilateral mistake even if it relates to a basic assumption on which the party entered into the contract and it has a material effect on the agreed exchange.
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Which of the following is true concerning discontinued operations?
a. Only the gain or loss is reported on the income statement. b. It must be both unusual in nature and infrequent in occurrence. c. Analysts would not normally include this item in making their decisions. d. Net income or loss from prior years must also be disclosed in the year of disposition.
Which of the following can influence self-leadership?
a. Type of outcome b. Culture c. Country d. All of the above
A ________ compares multiple items according to a single characteristic
A) frequency polygon B) line chart C) horizontal bar chart D) histograph E) paired bar chart
When multiple labor categories are used, the financial effect of using a different mix of workers in a production process is referred to as a _________________________ variance
Fill in the blank(s) with correct word