Question

Chapter 13

1. Explain the difference between bilateral and unilateral mistake.
2. List and describe the equitable remedies that a court can grant.
3. List and describe the remedies at law the court can grant.
4. What things can effect a person’s voluntary consent?
5. List the three things you need to show to prove Fraudulent Misrepresentation?
6. List and define the six contracts that fall under the statute of frauds.
7. What is difference between complete and substantial performance?
8. What is the difference between assignment and delegation?
9. What rights or duties cannot be assigned or delegated?
10. What is the difference between an intended beneficiary or an incidental beneficiary?
11. What are the different ways to discharge a contract by agreement?
12. What are the different ways to discharge by operation of law?

Answer 1

1. Explain the difference between bilateral and unilateral mistake.

Bilateral mistake and Unilateral mistake are the Important types of Mistake of Facts

Bilateral mistake:

Where the parties to an assention misjudged one another and are experiencing some miscommunication, there is a bilateral mistake. Here there is no genuine correspondence of offer and acknowledgment, each gathering clearly understanding the agreement in an unexpected way.

Indeed in such cases, there is no understanding by any means, there being whole nonattendance of assent.

Unilateral mistake:

Where just one, of the contracting parties is mistaken as to a self evident certainty, the mistake is a unilateral mistake. With respect to impact of unilateral mistake on the legitimacy of an agreement, Section 22 gives that "an agreement isn't voidable just on the grounds that it was brought about by one of the parties to it being under a mistake as to a self evident certainty."

Likewise, in the event of unilateral mistake an agreement stays legitimate except if the mistake is brought about by deception or extortion, in which case the agreement is voidable at the alternative of distressed gathering.

A mistake of certainty is unilateral when just a single gathering is mistaken. A bilateral mistake of truth happens when the two parties to the agreement are working under a mistaken reality. Bilateral mistakes are otherwise called shared mistakes or normal mistakes. A mistake of actuality that is unilateral in nature isn't ordinarily motivation to set aside an agreement or a reason that will permit an offended party in a common preliminary to look for harms. A unilateral mistake of truth will result in an enforceable voidable contract.