Unformatted text preview: Rule: A court may grant rescission of a contract if the mistake related to a basic assumption of the contract and the effect of the mistake is significant unless the party seeking rescission assumed the risk of loss. Rational: There was the “as is” clause and that moves the burden of risk to the buyers to do their due diligent. They cannot recede the contract because of their mistake. Holding: Pickles are not entitled to the remedy of rescission. Synthesis: Dissent/Concurrences:...
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- Fall '11
- Contract Law, Pickles, unit apartment complex, Lenawee County Board