The 'Lectric Law Library's Lexicon On
* Mistake *

MISTAKE - An error committed in relation to some matter of fact affecting the rights of one of the parties to a contract.

Mistakes in making a contract are distinguished ordinarily into, first, mistakes as to the motive; secondly, mistakes as to the person, with whom the contract is made; thirdly, as to the subject matter of the contract; and, lastly, mistakes of fact and of law.

In general, courts of equity will correct and rectify all mistakes in deeds and contracts founded on good consideration.
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