1. Discuss the effect that a unilateral mistake of fact has on the enforceability of a contract. Please define unilateral mistake as part of your answer.

2. Discuss the effect that a mutual mistake of fact has on the enforceability of a contract. Please define mutual mistake as part of your answer.

3. In your reasoned opinion, is the card seller entitled to a legal remedy (money damages) in this case? If so, why, and if not, why not?

Please remember to define all critical terms and to reference information from the article and video in your analysis.

Mistake and a Babe Ruth Baseball Card Introduction: When two people talk to each other in the hope that an exchange will take place, all kinds of things can go wrong. To make business transactions smoother and more dependable, the law has developed rules about when an agreement between two parties is enforceable. Rules of genuine assent address whether parties to a contract consented to a bargainedfor exchange. Concept Review: When people agree to buy or sell, they do so with a particular understanding about the nature of the good or service they are about to exchange. However, one or both parties may think they consented to exchange a particular thing, only to nd out later that no meeting of the minds had occurred. People may misunderstand either some fact about the deal or the value of what is being exchanged. In other words. one or more parties may have made a mistake regarding the contract when they entered into it. Misunderstandings about the facts underlying a contract may raise the potential for rescission of a contract. Legal assent is absent when a legal mistake occurs. Mistake, as understood in contract law, is an erroneous belief about the facts of a contract at the time the contracts concluded. Mistakes may be unilateral or mutual. Case: Please watch the video. Visalia man believes his $2 Babe Ruth baseball card is worth millions. Please read the New York Times case, "Babe Ruth card bought for $2 could be worth millions."