Purchase Solution

Multiple Choice - What is the effect of one party being mistaken about the subject matter of a contract?

Not what you're looking for?

Ask Custom Question

What is the effect of one party being mistaken about the subject matter of a contract?

a. The mistaken party can rescind the contract.
b. Either party can rescind the contract.
c. Either party can rescind the contract, and the mistaken party can recover damages.
d. Either party can rescind the contract and/or recover damages.
e. Neither party can rescind the contract or recover damages.

10. An oral contract for the sale of land is:
a. Void.
b. Enforceable.
c. Voidable.
d. Unenforceable.
e. Implied.

Purchase this Solution
Solution Summary

The solution discusses what is the effect of one party being mistaken about the subject matter of a contract.

Solution Preview

1. e. This is usually the answer, however, if it is found that the mistaken party really thought the subject matter was ...

Purchase this Solution
Free BrainMass Quizzes
Contract Requirments

How much do you know about the legal requirements for a contract? Find out with this quiz!

Title VII Laws

Learn the basics of the laws under Title VII.

Constitutional Law Rights

How much do you know about Constitutional Law Rights? Find out with this quiz!

Evidence

Do you know your evidence objections? Find out with this quiz!

Criminal Defenses Review

Test your knowledge of the basics of criminal law and defenses with this quiz.

View More Free Quizzes
Related BrainMass Solutions

  • What a Plaintiff Needs to Prove for an Implied-in-Fact Contract

    What is the effect of one party being mistaken about the subject matter of a contract? a. The mistaken party can rescind the contract. b. Either party can rescind the contract. c.

  • Material & Nonmaterial Breach of Contract

    Another one of equitable remedy would be contract rescission where the former contract which is the subject of dispute is cancelled and a new one may be formed to somehow meet the parties' needs.

  • Contract Case

    A common mistake takes place when both parties hold the same mistaken belief of facts. There is no mistake of subject matter that is fundamental to the contract. So, BTT cannot avoid this contract under the doctrine of mistake.

  • Business Law Questions

    A voidable contract is one in which a party may avoid her obligation under that contract. c. A voidable contract is one that has no legal effect because one of the essential elements is missing. d.

  • Unilateral Contract/LLC Partnership

    A contract, however, cannot be enforced if any of the following are true: a) One party makes a unilateral mistake of fact and the other party knew or should have known that a mistake was made.

  • Federal Court System

    Since the subject matter jurisdiction is about the laws that the court has authority over, the federal court can hence undertake the court cases.

  • Business Liability for Mistakes

    HOWEVER, DISNEY IS LIKELY TO HAVE A WEAK CASE BECAUSE THIS WAS CLEARLY A CASE OF Unilateral mistake A unilateral mistake is where only one party to a contract is mistaken as to the terms or subject-matter.

  • What are some defenses to the formation of a contract?

    These defenses may arise because of the subject matter of the contract, because of its form, or because of the behavior of a party or the status of a party.

  • The Legal Stipulations of Misrepresentation in Advertising

    not result in the contract being voided in a court of law.

View More Related Solutions