Asked by Jeffrey Morales on Jun 11, 2024
Verified
Which of the following must a mutual mistake involve in order for a mutual mistake to interfere with legal consent?
A) A basic assumption about the subject matter of the contract.
B) A material effect on the agreement.
C) A basic assumption about the subject matter of the contract and an adverse effect on a party who did not agree to bear the risk of mistake at the time of the agreement,but not a material effect on the agreement.
D) A basic assumption about the subject matter of the contract,a material effect on the agreement,and an adverse effect on a party who did not agree to bear the risk of mistake at the time of the agreement.
E) An admission by one of the parties that a misrepresentation occurred.
Legal Consent
An agreement made by someone with full understanding and willingness, often pertaining to legal contracts or medical procedures.
Mutual Mistake
A misunderstanding or error shared by all parties to a contract about a fundamental fact that is central to the contract, potentially voiding the agreement.
Basic Assumption
A fundamental belief or premise that is accepted as true without proof.
- Absorb the nuances distinguishing between singular and mutual errors in the creation of contracts.
- Determine the conditions under which a contract may be annulled because of errors, false statements, or coercion.
Verified Answer
KR
Kimberly RosalesJun 15, 2024
Final Answer :
D
Explanation :
For a mutual mistake to interfere with legal consent,it must involve a basic assumption about the subject matter of the contract,a material effect on the agreement,and an adverse effect on a party that did not agree to bear the risk of mistake at the time of the agreement.Courts will not void contracts for reason of mutual mistake if even one of the preceding attributes is missing.
Learning Objectives
- Absorb the nuances distinguishing between singular and mutual errors in the creation of contracts.
- Determine the conditions under which a contract may be annulled because of errors, false statements, or coercion.