Examlex
Semantics is
Mutual Mistake
An error shared by all parties to a contract, possibly making the agreement voidable.
Unilateral Mistake
A situation where only one party to an agreement is mistaken about a basic assumption on which the contract is made.
Equity
The value of ownership interest in property, including shareholders' equity in a corporation, minus liabilities and debts.
Concealment
The active hiding of the truth about a material fact.
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