What are the requirements for common mistakes?
Requirements – if mistake is underlying fact doctrine of common mistake may render agreement void (only in very limited circumstances, Great Peace Shipping)
1. Shares assumption as to a state of affairs
2. Neither party must have warranted that this state of affairs existed
3. Mistake must not be attributable to the fault of either party
4. Mistake must relate to the existence of vital attribute of the subject matter (fundamental e.g Scott v Coulson). Insufficiently fundamental Bell v Lever Bros.
When is common mistake unable to be invoked? (What case example)
If someone warrants that something is the case that doctrine of common mistake cannot be invoked as something is not the case. McRae v CDC. Similarly is party believes that something being the case is unreasonable it cannot be invoked.
In associated Japanese Bank v Credit Du Nord someone was not liable for promising someone else that someone else would pay them based on something they had. As the something did not exist. It was void for commons mistake
What is unilateral mistake?
- requires a mistake as to terms. Common mistake is as to facts but must be shared and fundamental.
What is frustration?
unexpected events after contract agreed. Common mistake required a mistake as to existing fact
What is misrepresentation?
where one party says/does something that misleads another. No need for the cordage to be fundamental (just material)
What is mistake of identity?
one party is mistaken usually as a result of fraud as to the identity of the other party
