Restatement Second of Contracts § 152
Law School: Liberty University School of Law
Course ID: LAW 505
Term: Fall 2017
Instructor: Prof. Rice
My Grade Earned: B
- Where a mistake of both parties at the time a contract was made as to a basic assumption on which the contract was made has a material effect on the agreed exchange of performances, the contract is voidable by the adversely affected party unless he bears the risk of the mistake under the rule stated in [R2C § 154].
- In determining whether the mistake has a material effect on the agreed exchange of performances, account is taken of any relief by way of reformation, restitution, or otherwise.