A Famous Decision Involving Mistake as to the Meaning of Contract

question 36

True/False

A famous decision involving mistake as to the meaning of contract terms is Raffles v.Wichelhaus,a case involving two ships with the same name which were confused by the two parties to the contract.

---

Definitions:

Traditional

Pertaining to customs, practices, and norms that have been passed down through generations within a specific culture or society.

Difference Principle

A principle formulated by philosopher John Rawls suggesting that societal inequalities are only justified if they benefit the least advantaged members of society.

Macroallocation Principle

A guideline for allocating large-scale resources in a way that addresses the needs of a population, often in contexts like healthcare or economics.

Equity Principle

A fairness doctrine that emphasizes equal treatment and opportunities for all individuals, often in the context of distribution of resources.