When Only One Party to a Contract Is Mistaken About

question 55

True/False

When only one party to a contract is mistaken about a material fact that is the subject matter of the contract,that party will not be permitted to rescind the contract.

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Definitions:

Ethnic Groups

Categories of people who identify with each other based on common ancestral, social, cultural, or national experiences.

Developing Country

A nation with a lower level of industrialization, a lower standard of living, and a lower Human Development Index (HDI) compared to developed countries.

Trait-Like

Having qualities that are characteristic or indicative of a specific trait but not fully qualifying as that trait.

Learnable

Capable of being acquired or understood through study, instruction, or experience.