The Parties' Previous Course of Dealing Will Have Little Impact

question 150

True/False

The parties' previous course of dealing will have little impact as courts interpret their contract.

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Definitions:

Bilateral Contract

A promise exchanged for a promise.

Scott V. Mid-Carolina Homes

A legal case that likely involves dispute resolution between an individual and a housing company, although specific details may vary.

Mutual Mistake

Mutual mistake is a situation in which all parties to a contract have a shared misunderstanding about a fundamental fact or assumption underlying that contract.

Unilateral Mistake

A legal term referring to a situation where only one party to a contract is mistaken about a material fact relating to the agreement.