Emily and Jason enter into a contract for the sale of a rare painting. Both believe that the painting is an original by a renowned artist. However, it is later discovered that the painting is a high-quality replica. Emily wants to void the contract citing a mistake. Which type of mistake best describes their situation?
The situation describes a mutual mistake because both parties shared a common but incorrect belief about a fundamental aspect of the contract—the authenticity of the painting. This mutual misunderstanding regarding a material fact allows the contract to be voided. A unilateral mistake involves only one party being mistaken, which does not apply here. A mistake of law pertains to misunderstandings about legal principles, not factual matters. Impracticability relates to unforeseen events that make contract performance excessively difficult, which is not the case in this scenario.
Ask Bash
Bash is our AI bot, trained to help you pass your exam. AI Generated Content may display inaccurate information, always double-check anything important.
What is a mutual mistake in contract law?
Open an interactive chat with Bash
How does a unilateral mistake differ from a mutual mistake?
Open an interactive chat with Bash
What is a mistake of law, and how does it differ from a mistake of fact?