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This document defines mistakes and outlines different types of mistakes. It discusses mistakes as either being related to law or facts. Facts-based mistakes can be bilateral, involving both parties, or unilateral, involving only one party. Bilateral mistakes can relate to the subject matter of the contract, including identity, existence, quality, quantity, price or title of the subject matter. Bilateral mistakes can also relate to the possibility of contract performance. Unilateral mistakes involve one party's mistaken identity of the other party, attributes of the other party, or nature of the contract.
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- 1. Mistake Meaning and Definition Mistake is a misconception or misimpression or misunderstanding or erroneous belief about something.
- 2. Types of Mistakes 1. Mistake as to Law, and 2. Mistake as to Fact 1. Mistake as to Law (a) Mistake as to law of land (b)Mistake as to foreign Law 2. mistake as to Fact (a) Bilateral Mistake; and (b) Unilateral Mistake
- 3. Bilateral or Mutual Mistake (A)Mistake as to Subject-Matter (i) Mistake as to identity of subject-matter (ii) mistake as to existence of subject-matter (iii) Mistake as to quality of------ (iv) Mistake as to quantity of--------- (v) Mistake as to price of------- (vi) Mistake as to title of ---- (vii) Mistake s to Existence of state of affair
- 4. Contd--------- (B) Mistake as to to possibility of performance (i) Physical impossibility (ii) Legal impossibility 2. Unilateral Mistake (i) Mistake as to Identity of party contracted with (ii) Mistake as to identity of attributes of the contracting party (iii) Mistake as to the nature of the contract