Jane and Phil enter into a contract,but make a bilateral mistake.For the contract to be rescinded by either party,the bilateral mistake must be about
A)amaterial fact.
B)value.
C)anopinion.
D)aprediction.

Question

Quizplus · Accepted Answer

For a contract to be rescinded due to a mutual mistake, the mistake must be about a material fact. A material fact is a fact that is significant to the performance or subject matter of the contract. Mistakes about value, opinions, or predictions generally do not qualify as material facts and would not be sufficient grounds for rescission.

Jane and Phil Enter into a Contract,but Make a Bilateral