When both parties to a contract are mistaken about either a current or a past material fact,either party can choose to rescind the contract.

Question

Quizplus · Accepted Answer

When both parties to a contract are mistaken about either a current or a past material fact,either party can choose to rescind the contract.Rescinding such a contract is fair because any agreement between the parties was an illusion: An ambiguity in some key fact prevented the parties from being in actual agreement.

When Both Parties to a Contract Are Mistaken About Either