Con 2 Week 4

what is a unilateral mistake?

• both parties make the same one mistake

• one party makes a mistake by themselves

• one party makes a mistake and the other party knows / ought to have known

• both parties make multiple mistakes about multiple things

'res sua ' means...

• The contract is void if the specific subject matter of the agreement is non-existent at the time of contracting

• Common assumption as to the existence of a state of affairs

• Restore to original position pre-contract

• Common mistake to title

What is a common mistake

• Common assumption as to the existence of a state of affairs

• A failure to read the contract

• When parties make different mistakes

• A misunderstanding

All types of misrepresentation entitle the remedy/remedies of...

• Rescission

• Rectification

• Rescission and damages

• injunction rescission damages specific performance

Step 2 of the elements of misrepresentation (points 5-7), include a requirement to establish fraudulent and/or negligent conduct?

• True

• False

Innocent misrepresentation can only qualify rescission alone as a remedy?

• True

• False

Reliance alone can not be considered as inducement into contracts

• True

• False