You collect antiques and regularly travel the country looking for good deals. In your wanderings, you find an old fiddle and offer the owner $5. The owner accepts, and you take your treasure home. After you get the fiddle home and do your research on it, you discover the fiddle is actually worth $5,000. What a find! What do you think would happen if the owner tried to cancel the contract and get the fiddle back? Mistake of value is not a valid defense to a contract, so the owner could not get his fiddle back. Mistake of value is a valid defense to a contract, so the owner could get his fiddle back. Mutual mistake is a valid defense to a contract, so the owner could get his fiddle back. Mutual mistake is not a valid defense to a contract, so the owner could not get his fiddle back.