An Ambiguity in a Contract Cannot Constitute a Mutual Mistake

question 108

True/False

An ambiguity in a contract cannot constitute a mutual mistake of a material fact.

---

Definitions:

Accounting Records

Documents that chronicle financial transactions over the life of a company, serving as the basis for preparing financial statements.

Shelf Registration

A regulatory process that allows a company to register a new issue of securities without having to sell the entire issue at once.

Securities

Financial instruments representing some type of financial value, such as stocks, bonds, or options.