MGT393H5 Study Guide - Fur Clothing, Rescission, Distraint
Document Summary
A mutual mistake is when both parties of a contract are mistaken as to the terms. Each believes they are contracting to something different. The court usually tries to uphold such a mistake if a reasonable interpretation of the terms can be found. A unilateral mistake is where only one party to a contract is mistaken as to the terms or subject- matter. The courts will uphold such a contract unless it was determined that the non-mistaken party was aware of the mistake and tried to take advantage of the mistake. The defendants, colin & shields, were london hide merchants who were sued by a belgian furrier, herr hartog. They had discussed selling him 30,000 argentinian hare skins at 10d per skin (which would have come to 1,250), but when they put the final offer in writing they mistakenly wrote 30,000 skins @ 10d per lb .
