Statement A: An instrument may be reformed when a mutual mistake of the parties causes the failure of the instrument to disclose their real agreement. Statement B: A contract of sa... Statement A: An instrument may be reformed when a mutual mistake of the parties causes the failure of the instrument to disclose their real agreement. Statement B: A contract of sale involving a piece of land is perfected by reducing the contract into writing. Only Statement 'A' is true. Both statements are true. Neither is true. Only Statement 'B' is true.
Understand the Problem
The question presents two statements related to contracts and asks the respondent to identify the truth value of each statement. The aim is to differentiate between the two statements regarding their validity in the context of law.
Answer
Only Statement A is true.
Only Statement A is true.
Answer for screen readers
Only Statement A is true.
More Information
Statement A is correct because an instrument can indeed be reformed if a mutual mistake prevents it from reflecting the true agreement between the parties. Statement B is incorrect because a contract of sale involving land requires more than just reducing the agreement to writing to be perfected.
Tips
A common mistake is assuming that any written contract constitutes perfection of a sale. Always verify what specific requirements are needed for different types of contracts.
Sources
- CHAPTER 4 Reformation of Instruments (N) 1359-1369 | PDF - Scribd - scribd.com
- MODULE 7 - PRIMA FACIE.pdf - coursehero.com
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