Fact Pattern 15-3
County Title Company processes information furnished by others to transfer title to real estate from a seller to a buyer. In performing this task for a sale of land from Doyle to Ezra, the furnished information is mistaken.
-Refer to Fact Pattern 15-3. The contract between Doyle and Ezra that includes the mistake may be rescinded if the mistake involves
A) a material fact.
B) any fact.
C) value or quality.
D) any of the choices.

Question

Fact Pattern 15-3​
County Title Company processes information furnished by others to transfer title to real estate from a seller to a buyer. In performing this task for a sale of land from Doyle to Ezra, the furnished information is mistaken.
-Refer to Fact Pattern 15-3. The contract between Doyle and Ezra that includes the mistake may be rescinded if the mistake involves
A) ​a material fact.
B) ​any fact.
C) ​value or quality.
D) ​any of the choices.

Quizplus · Accepted Answer

In order for a contract to be rescinded due to a mistake, the mistake must involve a material fact. This means that the mistake must relate to a fact that is essential to the transaction and would have a significant impact on the parties' decision to enter into the contract. Mistakes regarding other types of facts, such as value or quality, may not be sufficient to warrant rescission of the contract. Therefore, choice A is the best choice.

Fact Pattern 15-3​ County Title Company Processes Information Furnished by Others to Transfer

Fact Pattern 15-3 County Title Company Processes Information Furnished by Others to Transfer