A ________ Exists If Both Parties Know the Object of the Contract

question 68

Multiple Choice

A ________ exists if both parties know the object of the contract but are mistaken as to its value.

• A) unilateral mistake
• B) unilateral mistake of value
• C) mutual mistake of a material fact
• D) mutual mistake of a value
• E) mutual mistake of identity

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Definitions:

Practical Significance

The importance or usefulness of research findings in real-world applications, beyond statistical significance.

Sociocultural Perspective

A view in psychology that emphasizes the importance of social and cultural factors in influencing behavior and mental processes.

Competition

A situation in which individuals or groups vie for dominance, resources, or achievement, often leading to innovation and improvement.

Anxiety About Failure

A feeling of worry or fear about not meeting a set standard or achieving a desired outcome.