A unilateral mistake is a mistake in which only one party is mistaken about a material fact regarding the subject matter of a contract.

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A unilateral mistake occurs when only one party is mistaken about a material fact, while the other party knows or has reason to know of the mistake. In such cases, the mistaken party may be able to rescind the contract or seek reformation, depending on the circumstances.

A Unilateral Mistake Is a Mistake in Which Only One