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An error made by 2 parties, who believe differently and/or incorrectly about the facts in the contract.

bilateral or mutual mistake; a material fact that is mistaken by both parties. In such a case, the party who is adversely affected by the mistake has the right to cancel or rescind the contract. Sometimes a word or term is materially interpreted differently by each party, their mutual misunderstanding may allow the contract to be rescinded.

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15y ago

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