Refer to Fact Pattern 11-1.Any contract with AgriCo-op that includes the mistake may be rescinded
A)if the mistake involves a material fact.
B)if the mistake involves any fact.
C)if the mistake is one of value or quality.
D)under no circumstances.

Question

Quizplus · Accepted Answer

A contract with AgriCo-op can be rescinded if the mistake involves a material fact because a material fact is a critical aspect of a contract that can significantly impact the parties' willingness to enter into the agreement. Mistakes of value or quality are not typically grounds for rescission. Therefore, option C is incorrect. Option B is incorrect because not all mistakes, such as mistakes that do not affect the essence of the agreement, can be used to support rescission. Finally, option D is incorrect because, as explained, a mistake involving a material fact can provide the grounds for rescission.