Unilateral Mistake

Question 1

where only one party is mistaken

Answer 1

UNILATERAL mistake

Question 2

to succeed the under Unilat. mistake defending party must establish all elements of mutual mistake.

Answer 2

so do mutual mistake analysis first

Question 3

5 elements:

Answer 3

1) ONE party was mistaken
2) as to basic assumption of K
3) that goes to the material effect of the agreement
4) party seeking relief has not assumed the risk
5) a)enforcement of K would be unconscionable and non mistaken party has detrimentally relied
b) nonmistaken party had RTK or knew or created the mistake