BLAW 201 Lecture Notes - Lecture 6: Zircon, Topaz, Promissory Note
8 Jun 2016
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** everything in exam is avoidable except for insanity ** Mistake: must be a fact or law > cannot be an opinion, values are opinions, not fact, mutual mistake: both parties make the same mistake, unilateral mistake: only one party makes the mistake, renders contracts voidable, not void. Tl;dr: the mistake must go to the essence of the contract. In order to avoid a mistake, the mistake must be material. Tl;dr: the mistake must be important in order to be voidable. Both believe it is a zircon or a topaz, not worth much. It turned out to be an uncut diamond, worth - . Can a avoid: bought based on the fact that the stone is pretty, not its value not avoidable. A sells b a stone, which is pretty. Both believing it to be a rare gem - a diamond worth - . It turns out to be a zircon worth .
