Often,when Both Parties to a Contract Are Mistaken as to the Same

question 1

True/False

Often,when both parties to a contract are mistaken as to the same material fact,either party can rescind the contract.

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Definitions:

Specific Performance

A legal remedy requiring a party to fulfill their obligations as agreed in a contract, rather than paying damages.

Nonfraudulent Misrepresentation

An unintentional provision of false information that leads another to enter into a contract without the intent to deceive.

Out-of-Pocket Damages

Expenses or losses borne directly by an individual or entity due to another party's actions or inactions.

Punitive Damages

Monetary compensation awarded to a plaintiff, over and above actual damages, intended to punish the defendant for particularly egregious behavior.