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What is the effect of mistake on a contract? Which of the following is correct? If a mistake is discovered by one of the parties,
What is the effect of mistake on a contract? Which of the following is correct? If a mistake is discovered by one of the parties, then they can take action to rescind the contract since there is essentially no agreement Generally a mistake does not undo a contract; the parties take responsibility for their actions, in exceptional cases equity may intervene where there is injustice Much depends on the severity of the mistake, if a small mistake is made then
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