A Party May Not Rescind a Contract If There Has

question 37

True/False

A party may not rescind a contract if there has been a mutual mistake of a material fact.

---

Definitions:

Statement Of Cash Flows

Explains how the company’s cash changed from the beginning of the accounting period to the end.

Accounting Period

A specific period of time used for financial reporting purposes, typically a year or quarter.

Balance Sheet

A financial statement that summarizes a company's assets, liabilities, and shareholders' equity at a specific point in time, giving insight into its financial health.