Where one party is mistaken about a term of the contract and the other party is aware of the mistake but does nothing to correct it,the result is that:

Question

Quizplus · Accepted Answer

In this scenario, all the statements apply: there is no genuine agreement because one party is under a misconception about a key term; it's a unilateral mistake since only one party is mistaken; and typically, the contract would be considered void because the mistake goes to the heart of the agreement and the other party knowingly took advantage of the mistake.

Where One Party Is Mistaken About a Term of the Contract