Examlex
A shopping guide quotes the price of good X at $12 and good Y at $18. This is an example of money serving as:
Mistake Of Value
A misunderstanding about the significance, worth, or value of something involved in a contract, which may affect the validity of the contract.
Mutual Mistake
A situation in contract law where all parties involved have an incorrect belief about a vital fact at the time of entering into a contract.
Unilateral Mistake
An error made by one party in a contract that is not shared by the other party, potentially affecting the contract's validity.
Mutual Mistakes
A situation in contract law where all parties involved have a shared misunderstanding regarding a basic assumption that significantly impacts the contract.
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