An erroneous belief about the facts of the contract at the time the contract is concluded is called a mistake of fact.

Name: An erroneous belief about the facts of the contract at the time the contract is concluded is called a mistake of fact.
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A mistake of fact occurs when one or both parties to a contract have an incorrect belief about an essential fact at the time the contract is concluded, which can affect the validity of the contract.

An Erroneous Belief About the Facts of the Contract at the Time