Asked by
Mckenzie Gentry
on Nov 27, 2024
Verified
One type of bilateral mistake can occur when a word or term in a contract is subject to more than one reasonable interpretation.
Bilateral Mistake
A mistake that occurs when both parties to a contract are mistaken about the same material fact.
Interpretation
The process of explaining the meaning of something, often applied within legal, financial, and technical contexts to understand texts, actions, or events.
- Detect and differentiate unilateral from bilateral mistakes in contractual contexts.
- Understand the concept of material facts and their significance in contract law.
Verified Answer
MA
Learning Objectives
- Detect and differentiate unilateral from bilateral mistakes in contractual contexts.
- Understand the concept of material facts and their significance in contract law.
Related questions
A Fact That Is Important and Central to the Subject ...
Data Inc Offers to Provide Certain Services to Enterprise LLC, ...
If Contracting Parties Attach Materially Different Meanings to a Contract ...
County Title Company Processes Information Furnished by Others to Transfer ...
Even If the Defects on a Piece of Property Are ...