A Mutual Mistake of Fact Has No Effect on the Enforceability

question 53

True/False

A mutual mistake of fact has no effect on the enforceability of a contract.

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Definitions:

Cancel

The act of nullifying or terminating an agreement, subscription, or service.

Explicit Information

Information that is fully and clearly expressed, leaving nothing implied, often detailed and specific.

Federal Exemptions

Legal provisions that allow individuals to protect specific assets from being seized by creditors, particularly in bankruptcy.

Bankruptcy Relief

Bankruptcy relief is the alleviation of debt that a debtor achieves through the legal process of bankruptcy, under which certain debts can be restructured, reduced, or eliminated.