When a Mutual Mistake of Value Occurs, the Contract Remains

question 78

True/False

When a mutual mistake of value occurs, the contract remains enforceable by either party.

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Definitions:

Canadian Dollars

The currency of Canada, represented as CAD or $.

Gross Recording

An accounting practice where transactions are recorded in full without deducting any related expenses or costs.

Spot Rates

The current market price at which a particular asset can be bought or sold for immediate delivery.

Hedged Date

The date on which a hedge transaction is initiated to protect against future fluctuations in value.