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Mistake of fact and Mistake of Law

Mistake of fact and Mistake of Law

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Published by Mubashar Malik

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Categories:Types, School Work
Published by: Mubashar Malik on Dec 07, 2010
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04/23/2013

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Assignment No.1
Business Law
Subject: Mistake
Program:
M.Com
Submitted to:
Syed Imad-ud-Din Asad
Submitted By:
Muhammad Mubashar ul Haq
ID No.
080345-001
Date of Submission:
8/12/2010
University of Management and TechnologyLahore
 
Mistake:Introduction:
It is necessary for the creation of a valid contract that parties of the contract should agree to thesame thing and the same sense. If parties give their consent under any error, there is noagreement. So valid contract should be free from any kind of mistake. It means there should beconsensus ad-idem. To understand the mistake the ³Consent´ must be understand Section 13defines ³consent´ as follows:
³Two or more persons are said to consent when they agree upon the same thing in the same sense.´
An agreement upon the same thing in the same sense is known as true consent or consensus ad-idem, and is root at the root of the every contract.This seems to have been picked up from a passage in the judgment of 
 Lord Hannen in Smith v. Hughes.
³It is essential to the creation of a contract that both parties should agree to the same thing in thesame sense. Thus if two persons enter into an apparent contract concerning a particular person or ship, and it turns out that each of them, misled by a similarity of name, had a different person or ship in mind, no contract would exist between them (
 Raffles v. wichelhaus
)
 
Definition:
W
here the mistake does not defeat consent, but only misleads the parties, section 20 shall apply.This section provides:
³Where both the parties to an agreement are under a mistake as to matter of fact essential to theagreement, the agreement is void.´
Mistake can be divided into (1) mistake of fact and (2) Mistake of Law.Kinds of MistakeMistake of Fact Mistake of LawBilateral Mistake Unilateral Mistake Foreign Law Mistake Pakistani Law MistakeMistake as toAs to Existence of Subject Matter As to Identity of Subject Matter As to Ownership of Subject Matter As to Price of Subject Matter As to Quantity of Subject Matter As to Quality of Subject Matter 

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