Asked by Sabrina Laricy on Jun 27, 2024
Verified
When both parties to a contract are mistaken about the same material fact, a unilateral mistake has occurred.
Unilateral Mistake
A misunderstanding or error made by one party in a contract, which does not necessarily void the contract unless it significantly affects the terms.
Material Fact
A fact that, if known, could influence a decision maker's actions or decisions, especially in legal contexts.
- Identify and discriminate between unilateral and bilateral blunders in contract agreements.
Verified Answer
TW
Temesha WalkerJun 30, 2024
Final Answer :
False
Explanation :
When both parties to a contract are mistaken about the same material fact, a bilateral mistake, not a unilateral mistake, has occurred.
Learning Objectives
- Identify and discriminate between unilateral and bilateral blunders in contract agreements.
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