Sarah agreed to buy a small farm south of Iowa City.The real estate agent and herthought the house qualified for a specific type of financing for first time farmers.Sarah was set on starting a truck farm by raising vegetables and flowers.When she entered into a contract to purchase the property for $740,000, Sarah learned there was no special financing for first time farmers in her situation.She then calls up the real estate agent and learns they were mistaken, too, as they truly thought she qualified for that type of program.

Sarah wants to set aside the contract on grounds she and the real estate agent both were mistaken about an important term. Can the contract be set aside by being a mutal or bilateral mistake?why does the law provide for this remedy. or maybe it doesn't.... can you explain that for me. Thanks!