Utah Unilateral mistake is a type of mistake which is caused by one party in a contract, resulting in the other party suffering a loss. This type of mistake is recognized in Utah contract law, and it can be used in certain situations to void a contract. Common types of Utah Unilateral mistake include mistake of fact, mistake of law, and mistake of value. A mistake of fact occurs when a party mistakenly believes something to be true which is actually false. A mistake of law occurs when a party misinterprets the applicable law. A mistake of value occurs when a party mistakenly believes something to be of a different value than it actually is. In order for a unilateral mistake to be recognized, the mistake must be material to the contract, and the other party must not have known of the mistake at the time of the contract formation. If these requirements are met, then the affected party may be able to void the contract due to the mistake.
Utah Unilateral mistake
Description
How to fill out Utah Unilateral Mistake?
How much time and resources do you often spend on composing official documentation? There’s a greater option to get such forms than hiring legal specialists or spending hours searching the web for a suitable blank. US Legal Forms is the top online library that offers professionally drafted and verified state-specific legal documents for any purpose, like the Utah Unilateral mistake.
To obtain and complete an appropriate Utah Unilateral mistake blank, follow these simple instructions:
- Look through the form content to make sure it complies with your state regulations. To do so, read the form description or take advantage of the Preview option.
- If your legal template doesn’t satisfy your needs, find another one using the search bar at the top of the page.
- If you are already registered with our service, log in and download the Utah Unilateral mistake. Otherwise, proceed to the next steps.
- Click Buy now once you find the right blank. Opt for the subscription plan that suits you best to access our library’s full service.
- Register for an account and pay for your subscription. You can make a transaction with your credit card or via PayPal - our service is absolutely reliable for that.
- Download your Utah Unilateral mistake on your device and complete it on a printed-out hard copy or electronically.
Another advantage of our service is that you can access previously acquired documents that you securely store in your profile in the My Forms tab. Obtain them at any moment and re-complete your paperwork as frequently as you need.
Save time and effort preparing official paperwork with US Legal Forms, one of the most trustworthy web services. Join us now!
Form popularity
FAQ
Unilateral mistake refers to a mistake made by one party to a contract, while bilateral mistake refers to a mistake made by both parties. For example, if a buyer purchases a painting, believing it to be a genuine Picasso, but it turns out to be a , that is a unilateral mistake.
If a contract was entered into on the basis of a unilateral mistake, it could result in a lawsuit that provides the mistaken party with various remedies, such as contract rescission or contract reformation.
A unilateral mistake occurs where one party is aware of the mistake but doesn't inform the other party. If the mistake is significant enough, courts can declare the contract void.
Unilateral mistake is a common law doctrine that applies when one party is mistaken about the terms of the contract and the other party knows or must be taken to have known of the mistake.
A unilateral mistake example could include when one party misunderstands what the terms of a contract are and because of that, leads to a breach of contract. This is in comparison to a bilateral mistake which occurs when both parties are mistaken about components of the contract.
Unilateral Mistake of Law If only one party is mistaken, the mistake is a ?unilateral mistake? of law. One may rescind for a unilateral mistake of law only if the other party knows of, but does not correct, and takes advantage of or unfairly obtain the benefit of the rescinding party's mistake of law.
Unilateral contract examples Insurance contracts are one example of a unilateral contract. When you take out, say, home insurance, the company promises to pay you a specific amount of money if something happens to your home.