L S 3323 Study Guide - Final Guide: Undue Influence, False Statement, Extortion
16 Apr 2018
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A promise to buy or sell that the courts will require the parties to obey. Legal assent absent when a legal mistake occurs. Mistake in contract law is an erroneous belief about the material facts of the contract at the time the contract is formed. Any of the following conditions would permit court to invalidate a contract on grounds of unilateral mistake. One party has made a mistake about a material fact, and the other party either knew or had reason to know about the mistake. The mistake was caused by a clerical error that did not result from gross negligence. The mistake is so serious that the contract would be unconscionable (e. g. so unreasonable that it is outrageous) For mutual mistake to interfere with legal consent it must involve all of the. ! a basic assumption about the subject matter of the contract (e. g. ! a material effect on the agreement (e. g.
