When both parties are mistaken as to the subject matter of a contract, which of the following is
true?
A) Only the party injured by the mistake can rescind the contract.
B) Either party can rescind the contract.
C) Neither party can rescind the contract.
D) Only the party who first discovers the mistake can rescind the contract.
E) Either party can rescind the contract or recover damages from the other party.
B
You might also like to view...
________ is based on the cumulative wisdom of judges' decisions on individual cases through history
A) Common law B) Civil law C) Statutory law D) Bureaucratic law
Which of the following is an example of a reactor firm?
A) A biotech company fights government efforts that will restrict its ability to import raw materials. B) A petrochemical company takes preventive measures to protect employees from harmful chemicals within the workplace even before anyone suffers negative side effects. C) The Hardley Accounting Firm changes its accounting practices after the introduction of the Sarbanes-Oxley Act in 2002. D) Ramen's retail store decides to stop using plastic bags after customers threatened to boycott its products.