Which of the following is true of a unilateral mistake?
A)Only one mistake or ambiguity is present in the subject matter of 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 is when only one party involved in the contract is mistaken about a material fact regarding the subject matter of the contract. It is important to note that the mistake must be material, meaning it significantly impacts the agreement, in order for it to be considered a unilateral mistake. Choices A, B, and D are not accurate definitions of a unilateral mistake.

Which of the Following Is True of a Unilateral Mistake