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Where the consent of both the parties is given by mistake, the contract is
- a)void
- b)valid
- c)voidable
- d)illegal
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
Where the consent of both the parties is given by mistake, the contrac...
Answer:
When the consent of both parties is given by mistake, the contract is void. Here is a detailed explanation:
1. Mistake:
- Mistake refers to an erroneous belief or understanding about a particular fact or situation.
- In the context of contracts, a mistake can occur when one or both parties have misunderstood or misinterpreted some aspect of the contract.
2. Consent:
- Consent refers to the voluntary agreement of both parties to enter into a contract.
- For a contract to be valid, the consent of both parties must be free and genuine.
3. Mistaken Consent:
- When both parties give their consent based on a mistaken belief or understanding, it means that their consent is not free and genuine.
- The mistake can be related to a fact or a law, and it must be mutual (i.e., both parties are mistaken).
4. Void Contract:
- A void contract is a contract that is considered to have no legal effect from the beginning.
- When the consent of both parties is given by mistake, the contract is void because the essential element of free and genuine consent is missing.
5. Examples:
- For example, if Party A and Party B enter into a contract for the sale of a car, but both parties mistakenly believe that the car is in perfect working condition when it is actually faulty, the contract would be void due to the mutual mistake.
In conclusion, when the consent of both parties is given by mistake, the contract is considered void because the essential element of free and genuine consent is not present.
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When the consent of both parties is given by mistake, the contract is void. Here is a detailed explanation:
1. Mistake:
- Mistake refers to an erroneous belief or understanding about a particular fact or situation.
- In the context of contracts, a mistake can occur when one or both parties have misunderstood or misinterpreted some aspect of the contract.
2. Consent:
- Consent refers to the voluntary agreement of both parties to enter into a contract.
- For a contract to be valid, the consent of both parties must be free and genuine.
3. Mistaken Consent:
- When both parties give their consent based on a mistaken belief or understanding, it means that their consent is not free and genuine.
- The mistake can be related to a fact or a law, and it must be mutual (i.e., both parties are mistaken).
4. Void Contract:
- A void contract is a contract that is considered to have no legal effect from the beginning.
- When the consent of both parties is given by mistake, the contract is void because the essential element of free and genuine consent is missing.
5. Examples:
- For example, if Party A and Party B enter into a contract for the sale of a car, but both parties mistakenly believe that the car is in perfect working condition when it is actually faulty, the contract would be void due to the mutual mistake.
In conclusion, when the consent of both parties is given by mistake, the contract is considered void because the essential element of free and genuine consent is not present.
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Where the consent of both the parties is given by mistake, the contract isa)voidb)validc)voidabled)illegalCorrect answer is option 'A'. Can you explain this answer?
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Where the consent of both the parties is given by mistake, the contract isa)voidb)validc)voidabled)illegalCorrect answer is option 'A'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Where the consent of both the parties is given by mistake, the contract isa)voidb)validc)voidabled)illegalCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Where the consent of both the parties is given by mistake, the contract isa)voidb)validc)voidabled)illegalCorrect answer is option 'A'. Can you explain this answer?.
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