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Mistake (Mistake as to the identity of the other party (the courts will…
Mistake
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REMEDIES FOR MISTAKE
rescission if the mistake is not fundamental to make the contract void, the court can apply the equittable remedy of rescission and allow the mistaken party to set aside the contract
rectification available where a written agreement between the parties failed to reflect the actual agreement that was reached Craddock v Hunt
mistake in equity mistakes as to quality cannot make the contract voidable in equity Great Peace Shipping Ltd v Txavliris Salvage Int
Common mistake
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- the mistake must be fundamental;
- the subject matter of the agreement is no longer in existence when the contract is established (Courturier v Hastie
- res sua - someone enters the contract to buy something which he already owns (Cochrane v Willis
Mistake over quality
a mistake about the quality or quantity of the goods or money paid will not normally amount to a common mistake
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- a mistake in the contract does not render it void;
- the maxim is caveat emptor it's up to the person making the contract to ensure that he is getting a good bargain
- nature and seriousness of mistake;
- a mistake must have occurred before the contract was made and must have induced the mistaken party to enter the contract;
- in order for the mistake to enable the contract to be void, it must be both fundamental and "operative" which prevents the consensus ad idem that is an essential feature of a valid contract