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unilateral mistake

A unilateral mistake occurs when only one party in a contract misunderstands a key fact or term while the other party is aware of the correct information. This misunderstanding can lead to one party entering into an agreement without realizing a crucial error, such as misinterpreting the price or the subject of the contract. In many cases, the party who is mistaken may seek to void the contract if it can be proven that the mistake was significant enough to affect the agreement's validity. However, the results often depend on specific circumstances and legal jurisdiction.

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    A unilateral mistake occurs when one party in a contract is mistaken about a key fact, while the other party is aware of the true situation. For example, if a seller believes a painting is an original when it is a reproduction, but the buyer knows it's a reproduction, only the seller is mistaken. This can lead to problems, as the mistaken party may seek to void the contract. However, unilateral mistakes are often difficult to prove in court, especially if the other party acted in good faith and did not intentionally deceive the mistaken party.