European courts permit contract rescission for a mistake of value when the mistake involves more than 50 percent of the value at the time of the contract.

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European courts agree with the reluctance of American courts to interfere with a contract just because the value of the item in question has changed since the agreement.When they make the contract,the parties are assumed to have accepted that the value might change later.However,European courts permit contract rescission for a mistake of value when the mistake involves more than 50 percent of the value at the time of the contract.

European Courts Permit Contract Rescission for a Mistake of Value