Which of the following is not a required element to avoid a contract due to mutual mistake?

A) The mistake relates to a basic assumption on which the contract was made.
B) The mistake has a material effect on the agreed-upon exchange.
C) The mistake was not readily apparent to either party at the time of contract.
D) The party adversely affected by the mistake does not bear the risk of the mistake.

Mutual Mistake

A contract law term where all parties involved have a mistaken understanding about a crucial aspect of the agreement.

Basic Assumption

A fundamental belief or principle that is accepted as true without need for proof, underlying the basis of an argument or theory.

Material Effect

An impact significant enough to influence a decision, outcome, or valuation, often used in legal and financial contexts.