Asked by RAM SAI DINESH REDDY on Jul 22, 2024
Verified
Generally, a unilateral mistake does not give the mistaken party any right to relief from the contract.
Unilateral Mistake
A mistake that occurs when one party to a contract is mistaken as to a material fact.
Relief
Aid or assistance offered to alleviate hardship or distress in various contexts, such as financial relief or emergency relief efforts.
- Identify and distinguish between unilateral and bilateral mistakes in contracts.
Verified Answer
PR
Prabha RamoutarJul 23, 2024
Final Answer :
True
Explanation :
A unilateral mistake, where only one party is mistaken about a fundamental aspect of the contract, generally does not entitle the mistaken party to relief unless the non-mistaken party was aware of the mistake and took advantage of it.
Learning Objectives
- Identify and distinguish between unilateral and bilateral mistakes in contracts.