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Mutual and Unilateral Mistake in Contract Law Author: drs63 Created Date: 12/7/2016 9:13:37 AM.
Will A Mistake In a Party's Name Prevent Enforcement of Florida Contracts – Read the family law legal blogs that have been posted by Robert.
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In other words, it makes a significant difference whether the non-mistaken party is aware that the other party does not understand a term in the contract. If the non-mistaken party knows that the other party has made a unilateral mistake, the result is usually contract rescission (cancellation).
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Palpable Unilateral Mistake: A unilateral mistake where the non-mistaken party either knew or should have known of the other party’s mistake. Mistake in Transcription: Where the parties make an oral contract which they then put down in writing but, because of some clerical mistake, the writing does not accurately reflect the oral agreement.
However, if the non-mistaken party caused the mistake, or knew the other party was making a mistake and didn’t help correct it, the court will probably not enforce the contract. If the only mistake made is in writing down a term or terms, a court may allow the mistake to be corrected. This is called "reformation."
These contracts are binding for the parties who sign them. However, in some cases, a situation exists when the contract is signed, or occurs during the term of the agreement, that makes even a.
· Will the Court Correct a Mistake? Following on from our recent article “Contracts: Who are you contracting with?Is it the right company? What’s in a name?”, which highlighted the perils of incorrectly naming a contracting party in the contract, this article discusses the recent case of Liberty Mercian v Cuddy Civil Engineering Ltd and whether the Courts can, and more importantly, will.
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