Which of the following is true of a unilateral mistake?
A) Only one mistake or ambiguity is present in the subject matter of the entire contract.
B) Out of several contracts drafted simultaneously between two parties, one has a mistake in its subject matter that does not concern the other contracts.
C) Only one party is mistaken about a material fact regarding the subject matter of a contract.
D) A single mistake about a material fact in the subject matter of a contract appears several times in the contract.

Question

Quizplus · Accepted Answer

A unilateral mistake occurs when only one party is mistaken about a material fact regarding the subject matter of a contract. Option A is incorrect because it refers to a unilateral mistake as a single mistake or ambiguity in the entire contract, which is incorrect. Option B is incorrect because it refers to mistakes in separate contracts, whereas a unilateral mistake pertains to one contract. Option D is incorrect because it refers to a single mistake appearing multiple times in a contract, which is not relevant to the definition of a unilateral mistake.

Which of the Following Is True of a Unilateral Mistake