LAW 600A Lecture Notes - Lecture 29: Coin Counterfeiting, Federal Reporter, Tral
Document Summary
This doctrine is a set of rules whereby parties can claim they should be released from having to perform. The rules are essentially either some circumstance existed at contract formation or after contract formation that was unanticipated or not contemplated by the parties to the contract. A mistake is a belief that is not in accord with the facts. When mistake of one party makes a contract voidable. When a party bears the risk of a mistake. When mistake of both parties as to written expression justifies reformation. Plaintiff and defendant enter into a contract for the sale of a barren cow. Both parties are under the impression that the cow is barren and bargain for price accordingly. After the contract has been formed, but before delivery, it is discovered that the cow is with calf. Defendant refuses to deliver the pregnant cow to defendant. The (cid:862)mi take of the parties went to the whole substance of the agree(cid:373)e(cid:374)t(cid:863)
