In Contract Law a Mistake Is

question 3

Multiple Choice

In contract law a mistake is

• A) an error about the terms of the contract, or the assumptions regarding important facts related to the contract.
• B) a false statement made by one party that causes someone to enter a contract.
• C) unfair manipulation that compromises someone's free will.
• D) an error of judgment about the benefits of a contract.
• E) the threat of physical or economic harm that results in a contract.

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Definitions:

Fraud

The intentional deception or misrepresentation made by a person or entity to gain an unfair advantage or to harm another party's interests.

Rectification

The process of correcting or making right an error, especially in legal documents.

Voidable

A term describing a contract or transaction that remains valid until one party takes action to void it, often due to elements like fraud or misrepresentation.

Worthless Cheque

A cheque that cannot be processed because the account it is drawn on does not have sufficient funds.