The 'Mutual Mistake' Concept Is Best Described by Which of the Following

question 38

Multiple Choice

The 'mutual mistake' concept is best described by which of the following scenarios?

• A)Both parties have made the same mistake about the existence or identity of the subject matter of the contract.
• B)Both parties are mistaken about a material fact that is important to the subject matter of the contract.
• C)One of the parties is mistaken about a material fact regarding the subject matter of the contract,and the other party takes advantage of this mistake.
• D)One of the parties is mistaken as to the nature of the document which they have signed.

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Definitions:

Ideological Reasoning

Forming conclusions based strictly on a predefined set of doctrines or political beliefs.

Constrains

Limits or restricts someone's actions or behavior.

Abstract Conclusion

A summary or synthesis of complex ideas, thoughts, or findings that may not have a direct, tangible representation.