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:

Random Variable

A variable whose outcomes are determined by the occurrences of a random event.

Exponential Random Variable

A type of random variable that describes the time between events in a Poisson process, representing occurrences that happen at a constant rate.

Exponentially Distributed

Describes the time between events in a Poisson point process, i.e., a process in which events occur continuously and independently at a constant average rate.

Random Variable

This refers to a variable where its values are linked to the outputs of unpredictable phenomena.