Mistake takes place after the formation of the contract, and frustration occurs at the time of the formation of the contract.

Question

Quizplus · Accepted Answer

Mistake can also happen at the time of formation of the contract, such as when there is a mistake in the terms or subject matter discussed during the negotiation stage. Frustration, on the other hand, happens after the formation of the contract, when circumstances outside of the control of both parties make it impossible for them to fulfill their obligations under the contract.

Mistake Takes Place After the Formation of the Contract, and Frustration