Contract Drafting & Law Course Preview
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<p class="banner-heading-text-two-line"><span>Module I: Contract Law Essentials—Mistake</span></p>
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<p><span class="padded-dropcap">A</span> mistake is an erroneous belief concerning something. A mistake occurs when parties do something, which was not essentially their intent, at the time of forming the contract.</p>
<p>A mistake may be a:</p>
<p style="padding-left: 30px;">(i) Mistake of law, or </p>
<p style="padding-left: 30px;">(ii) Mistake of fact. </p>
<p>As per Section 20, “Where both the parties to an agreement are under a mistake as to a matter of fact essential to the agreement, the agreement is void.” This is called a bilateral mistake or mutual mistake. It may be a mistake as to the existence of a subject-matter, quantity of the subject-matter, price, identity or title of the subject-matter. </p>
<p>Section 21 provides “A contract is not voidable because it was caused by a mistake as to any law in force in India; but a mistake as to a law not in force in India has the same effect as a mistake of fact.”</p>
<p>A unilateral mistake is where only one party to the agreement is under a mistake. It may be with regard to the identity of parties or the nature of the contract itself. A contract is not voidable merely because it was caused by one of the parties to it being under a mistake as a matter of fact.</p>
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