Where Two Parties Contract for the Sale of an Old

question 64

True/False

Where two parties contract for the sale of an old violin,but neither party realizes that it is a rare and extremely valuable violin,this is a mutual mistake of fact allowing rescission.

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Definitions:

Authority

The capacity or entitlement to direct actions, decide outcomes, and command adherence.

Sue Estate

The legal action taken against a deceased person's estate to settle debts or disputes.

Negotiated

The process of discussing the terms of an agreement or contract to reach a satisfactory deal for all parties involved.

Agreement

A mutual arrangement between two or more parties, typically formalized by a contract outlining each party's obligations.