Which of the Following Is True of a Unilateral Mistake

question 64

Multiple Choice

Which of the following is true of a unilateral mistake?

• A) Only one mistake or ambiguity is present in the subject matter of the entire contract.
• B) Out of several contracts drafted simultaneously between two parties, one has a mistake in its subject matter that does not concern the other contracts.
• C) Only one party is mistaken about a material fact regarding the subject matter of a contract.
• D) A single mistake about a material fact in the subject matter of a contract appears several times in the contract.

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Definitions:

Direct Lease

A lease agreement directly between the lessor and lessee, excluding intermediaries, typically for commercial properties or automobiles.

Manufacturer

A company or individual that produces finished goods from raw materials through the use of tools, human labor, machinery, and chemical processing.

Lease Agreements

Contracts between a lessor and a lessee that grant the lessee the right to use an asset for a specific period in exchange for payment.

Lower Taxes

Reductions in the amount of tax imposed by a governmental authority.