Accg614 - week3

Usually arises in relaon to mistakes about the identy

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Unformatted text preview: argument was not accepted) Lesson: If there is an implied promise about the existence of the subject ma\er of a contract and the other party acts in reliance on that promise to their detriment, common mistake cannot be established Generally contracts suffering from a Common Mistake are Void 8 Unilateral Mistake There is a lack of agreement between the par=es: Mistakenly makes offer to B B B knows (or ought to know) of A’s mistake A C Intends to make offer to C 9 Unilateral Mistake –  Only one of the par=es is mistaken, and the other is, or ought to be, aware of this. –  Usually arises in rela=on to mistakes about the iden=ty of contrac=ng par=es or subject mater •  For example twins or people with similar sounding names; or •  It may also occur in rela=on to subject ma\er that is very similar (i.e. 2 cars that look the same or have similar names 10 Mutual Mistake –  The par=es misunderst...
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