Coleman Holdings LP bought a parcel of real estate subject to setback restrictions imposed by a document entitled "Partial Release of Restrictions." The release effectively precluded building a structure on the property. Lance and Joanne Eklund offered to buy the parcel from Coleman, intending to combine it with an adjacent parcel and build a home. Coleman gave the Eklunds a title report that referred to the "Partial Release of Restrictions," but they were not given a copy of the release.

Mistakenly believing that the document released restrictions on the property, the Eklunds did not investigate further. Meanwhile, Coleman mistakenly believed that the setback restrictions had been removed. After buying the property and discovering the restrictions, the Eklunds filed a suit in a Nevada state court against Coleman, seeking rescission of the sale. The court ordered the deal rescinded. The Nevada Supreme Court affirmed the order. "The parties made a mutual mistake in their mutual belief that the parcel had no setback restrictions."

Note: Can you please answer this question using IRAC( Issue, Rule of Law, Analysis, and Conclusion) format. Because then it will be easy for me to understand the case a a lot better. Please explain.