if a unilateral mistake of fact is apparent to one party, that party may take advantage of that knowledge and profit from the other party's ignorance. a. true b. false

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09-12-2022
Social Studies

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if a unilateral mistake of fact is apparent to one party, that party may take advantage of that knowledge and profit from the other party's ignorance. a. true b. false

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rafikiedu08 rafikiedu08 · Answer 1 · 2022-12-16T08:09:29-05:00

This statement is false that if a unilateral mistake of fact is apparent to one party, that party may take advantage of that knowledge and profit from the other party's ignorance.

One party may benefit from the other's ignorance if it is obvious to that party that there has been a unilateral error of fact. Those who have fallen prey to deceptive deception may be given punitive damages. The damaged party may be able to terminate the contract on the grounds of innocent misrepresentation.

An example of a unilateral mistake is when one party interprets the terms of a contract incorrectly, which results in a contract breach. Contrast this with a bilateral error, which happens when both parties are wrong regarding a clause in the contract.

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