Mutual Mistake or Unilateral Mistake in Contract

Mistakes unfortunately happen when it comes to written agreements. When they do, a party to a written agreement may try to reform the agreement or rescind the agreement due to the mistake. Reforming or rescinding a written agreement based on a mistake is NOT as easy as it may sound simply because a party claims there was a mistake in the process. There are two types of mistakes that could support a basis to reform or rescind a contract: mutual mistake and unilateral mistake. Typically, both mistakes require a party to prove the mistake and satisfy their burden of proof justifying...