ADMS 2610 Lecture Notes - Lecture 3: Uberrima Fides, Rescission, Specific Performance
Document Summary
Must be in regard to the existence of the contracts subject matter or a party to it. Only one party to the agreement is mistaken about a material fact courts could rectify/change written terms of reflect true meaning. Only the injured party can ask court to void/end contract/ if both parties made a mistake that was material to the deal. A narrow form of mistake designed to help the illiterate or infirm who could be unaware of the true nature of the contact, rather than its terms. Cannot be used to excuse general carelessness or negligence. Courts might rectify, that is order a change in written terms to reflects. Making a false statement that includes another person to form a contract. Courts will void if both parties entered contract under the same innocent but mistaken belief. A false statement of fact knowingly made by one party to another.