Utah Mutual Mistake is an error in a contract where both parties are mistaken about the same fact. This type of mistake is treated differently than a Unilateral Mistake, where only one party is mistaken. There are two types of Utah Mutual Mistake: Mutual Mistake of Fact and Mutual Mistake of Law. Mutual Mistake of Fact occurs when both parties are mistaken in the same way about an existing fact. Mutual Mistake of Law occurs when both parties are mistaken about the legal consequences of the contract. In both cases, the court will attempt to reform the contract to the parties' original intentions.
Utah Mutual mistake
State:
Utah
Control #:
UT-JURY-CV-2241
Format:
Word
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Mutual mistake
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FAQ
The Basic Law: A mutual mistake occurs when the parties to a contract are both mistaken about the same material fact within their contract. They are at cross-purposes. There is a meeting of the minds, but the parties are mistaken. Hence the contract is voidable.
Test for mutual agreement mistake The courts will apply an objective test to the question of whether there is an agreement, considering whether one party's interpretation was more reasonable than the others. The leading authority for this test is Smith v Hughes, which was examined above.
A mutual mistake is a mistaken assumption, which both parties make, as to the conditions surrounding the contract.
In order to use the defense of mutual material mistake to argue that formation of the contract was improper, a party must argue that: (1) there was a mistake; (2) that the mistake must be material, meaning, that it must concern substantive characteristics of the subject of the contract; and (3) the mistake was mutual,
Mutual mistake arises out of a misunderstanding so that the parties are at cross purposes. For example, where a party intends to sell a cargo of cotton to arrive on a named ship and the buyer intends to buy cotton to arrive on a different ship with the same name.
Mutual. Only $35.99/year. What is the legal effect of a mutual mistake of? value? The contract remains enforceable by either party.
A unilateral mistake is an. incorrect belief of one party that is not shared by the other party. A. mutual mistake is an incorrect belief shared by both parties.