When both the parties to an agreement are under a mistake as to a matter of fact essential to an agreement, the agreement is:

Related MCQs

• An agreement made under mistake of fact, by both the parties, forming the essential subject matter of the agreement is:
• Consider the following: 1. Active concealment of fact. 2. Promise made without any intention of performing it. 3. Breach of duty which gains an advantage to the person committing it. 4. Inducing mistake as to subject matter. Which of the above amount to fraud?
• An agreement caused by unilateral mistake of fact is:
• An insurance company paid money by mistake on a policy which had lapsed. Though the company was not ignorant of the fact of the lapse, this was overlooked at the time of payment. Can the company recover the amount?
• If both the parties to a contract believe in the existence of a subject, which infact does not exist, the agreement would be
• Liability of a person getting benefit under mistake has been described in the Indian Contract Act under:
• Mr. Kamal was levied Sales Tax on his forward transactions in bullion, which he paid. The levy of this tax was declared ultra vires. Mr. Kamal demanded refund on the amount of Sales Tax on the ground that payment was under a mistake of law. Which of the following is correct?
• After a transaction has ripened into a contract, does it require the consent of both parties to revoke or modify it?
• For binding contract both the parties to the contract must
• An agreement to agree in future upon terms to be settled afterwards between the parties is