Often,when both parties to a contract are mistaken as to the same material fact,either party can rescind the contract.

Name: Often,when both parties to a contract are mistaken as to the same material fact,either party can rescind the contract.
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This is known as mutual mistake of fact and it is a valid ground for rescinding a contract. Both parties must have been mistaken about the same material fact at the time of entering into the contract.

Often,when Both Parties to a Contract Are Mistaken as to the Same