Law of Contract: Absence of Consensus due to Mistake

Mistake in a contractual sense refers to when a contracting party acts under an incorrect impression regarding a fact that relates to or affects the contract.

Unilateral mistake

Mutual mistake occurs when both parties are mistaken about each other's intentions.

<p>Unilateral mistake involves one party being mistaken while the other is aware, whereas mutual mistake involves both parties being mistaken about each other's intentions.</p> Signup and view all the answers

<p>In a common mistake, the mistake is shared by all parties to the contract.</p> Signup and view all the answers

<p>A mistake is considered irrelevant if the mistaken party would have entered into the contract despite the mistake.</p> Signup and view all the answers

<p>Did the party mislead the other party into believing that his declared intention represented his actual intention?</p> Signup and view all the answers

<p>The plaintiff entered into the agreement in the bona fide belief that he was buying a different immovable property pointed out by the defendant's agents.</p> Signup and view all the answers

<p>Misrepresentation as to one party's intention, who made that representation, and if the other party was misled.</p> Signup and view all the answers

<p>Whether the other party was actually misled and if a reasonable man would have been misled.</p> Signup and view all the answers

<p>Because the plaintiff believed he was buying a different immovable property than the one described in the sale agreement.</p> Signup and view all the answers

<p>It means the mistake was fair or reasonable.</p> Signup and view all the answers

<p>Material mistake</p> Signup and view all the answers

<p>Misrepresentation, duress, undue influence, or commercial bribery</p> Signup and view all the answers

<p>Serious intention to contract, be of one mind as to material aspects, and be aware that all parties are of the same mind</p> Signup and view all the answers

<p>Mistakes regarding the parties to the contract</p> Signup and view all the answers

<p>Mistake regarding material terms</p> Signup and view all the answers

<p>A non-material mistake does not exclude the actual agreement; the contract is voidable.</p> Signup and view all the answers

<p>Error in persona</p> Signup and view all the answers

<p>When the identity of a party is of vital importance to the mistaken party</p> Signup and view all the answers

<p>a) Is there consensus? b) If not, is there dissensus caused by a mistake? c) Is the other party aware of the mistake? d) Who induced the mistake and was it done by commission or omission which was either fraudulent, negligent or even innocent?</p> Signup and view all the answers

<p>Consensus is necessary for an agreement to be valid</p> Signup and view all the answers

<p>Dissensus caused by a mistake indicates a lack of agreement due to an error, while consensus signifies mutual understanding</p> Signup and view all the answers

<p>Identifying the party's intent is essential to determine if the mistake was induced fraudulently, negligently, or innocently</p> Signup and view all the answers

<p>To seek rectification of a contract means to ask the court to rephrase the contract in order to accurately reflect the true mutual agreement of the parties.</p> Signup and view all the answers

<p>Rectification is not available as a remedy when only one or some of the parties were under a misapprehension or mistaken impression.</p> Signup and view all the answers

<p>Rectification does not create a new contract or amend an existing one; it merely corrects the written memorial of the agreement.</p> Signup and view all the answers

<p>A party to an incorrectly recorded agreement may apply for rectification.</p> Signup and view all the answers

<p>One can apply for rectification when the written contract fails to accurately express the true consensus of all parties involved.</p> Signup and view all the answers

<p>Rectification aims to ensure that the written document accurately reflects the true mutual agreement of the parties.</p> Signup and view all the answers