Unformatted text preview: Rule: Mistakes are only defenses if they are of material fact, not always basic ass/umption. In the absence of fraud or warranty, the value of a sold item is not grounds for rescission. Rational: Since both of them did not know the true nature of the stone, they could not be held responsible for the mistake, and they were selling a stone. The quality of the stone did not play a part in the determination of the contract or exchange. Holding: The contract remains valid, because contracts cannot be reseeded just for making a bad barging. Synthesis: Dissent/Concurrences:...
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- Fall '11
- mistake, The Mistake, store owner, jewelry store