Management and Organizational Studies 2275A/B Lecture Notes - Punitive Damages, Clean Hands, Product Liability
12 Mar 2013
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Where it is clear that due to a mistake, the parties have failed to reach a consensus void contract. Mistake must go to the very root of the contract (identity, terms, future event, consequences) Courts will provide remedy when: terms of agreement (identity or subject, based on the facts (not law) Where mistake is caused by negligence of one party that party is held responsible for error. Unjust enrichment courts will order a return of funds if one party receives a payment she is not entitled to because the other has misunderstood his legal obligation. If a shared mistake relates to the value of what their dealing with=enforceable to correct (not rewrite) or rectify the document (could be a clerical error) Both parties must intend for the documents to be read another way. Cargo was being transported on a ship called the peerless - there were two ships by this name both leaving same port at different time.
