If the mistake in the contract is made by both parties then it amounts to:
A) mutual mistake.
B) unilateral mistake.
C) intentional mistake.
D) conditional mistake.

Question

Quizplus · Accepted Answer

A mutual mistake occurs when both parties to a contract share the same misunderstanding regarding a material fact. In this scenario, both parties made the mistake, which would constitute a mutual mistake under contract law. A unilateral mistake, on the other hand, occurs when only one party is mistaken about a material fact. An intentional mistake or a conditional mistake would suggest fraudulent or deceitful behavior, which is different from a mutual mistake. Therefore, the best choice in this scenario is A) mutual mistake.

If the Mistake in the Contract Is Made by Both