If there has been a mutual mistake,the contract may be rescinded on the grounds that no contract has been formed because there has been no "meeting of the minds" between the parties.

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Quizplus · Accepted Answer

This is true. If there has been a mutual mistake, meaning both parties were mistaken about a material fact, and as a result, did not come to a "meeting of the minds," then the contract can be rescinded. This means that the contract is essentially nullified, and neither party will be held to its terms.

If There Has Been a Mutual Mistake,the Contract May Be