The Peerless ship case referenced in the textbook is a classic example of a ________ mistake.
A)unilateral
B)mutual
C)conditional
D)secondary
E)non-material

Question

Quizplus · Accepted Answer

The famous story of the Peerless ship has taught generations of students the importance of being very clear in defining material facts in any contract.The contracting parties had agreed that the vessel Peerless would deliver the cotton they were exchanging.Unfortunately for them,there were actually two ships named Peerless! So,when the deal was made,one party had one Peerless in mind while the other meant the second Peerless.This was a mutual mistake,an error by both parties about a material fact pertaining to the contract.

The Peerless Ship Case Referenced in the Textbook Is a Classic