If there has been a mutual mistake of material fact, the contract cannot be rescinded.

Question

Quizplus · Accepted Answer

If there has been a mutual mistake of material fact, either party has the right to rescind or cancel the contract. This is because a mutual mistake of material fact means that both parties were mistaken about an essential aspect of the contract, and therefore never truly reached a meeting of the minds. In such cases, the contract is voidable and can be rescinded by either party.

If There Has Been a Mutual Mistake of Material Fact