A Contract Based on a Mutual Mistake in Judgment Is

question 20

Multiple Choice

A contract based on a mutual mistake in judgment is:

• A) voidable by the adversely affected party.
• B) not voidable by the adversely affected party.
• C) void ab initio.
• D) none of the above.

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Definitions:

Monarch

A sovereign head of state, especially a king, queen, or emperor, who typically inherits the position by birth.

Republic

A form of government in which power is held by the people and their elected representatives, and which has an elected or nominated president rather than a monarch.

Referendum

A direct vote by the electorate on a specific question, proposal, or issue, often used to make decisions on legislative amendments or policy changes.

Fiscal Year

A one-year period used for accounting and financial purposes, which may or may not align with the calendar year.