BUL-3310 Chapter Notes - Chapter 16: Clerical Error, Rescission, Unconscionability
16 Oct 2017
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In some situations, the common law recognizes there may be circumstances that allow individuals and entities to avoid the promises they have made under an otherwise proper agreement. It is appropriate that we examine the genuineness of the assent. If one party misrepresents an important aspect of a contract, the law provides a remedy. 5 main situations: contracts can be avoided when there is a mistake when the contract is formed. In situation where contract was entered by mistake or duress, there should be a way to void the agreement b/c of non-total consent. Agreement should be voidable. power of rescission - results in agreement being cancelled. Both parties must return to a state before the contract (return anything provided/paid to each party) Mistake - some unintended act, omission, or error that arises from ignorance, surprise, imposition or misplaced con dence. A court may or may not grant relief because of a mistake.
