Jane and Phil enter into a contract,but make a bilateral mistake.In order for the contract to be rescinded by either party,the bilateral mistake must be about a(n)

Question

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A bilateral mistake must be about a material fact, which is a fact that is important and would have influenced the decision to enter into the contract. Mistakes about value, opinion, or prediction are generally not grounds for rescission of a contract.

Jane and Phil Enter into a Contract,but Make a Bilateral