Common Mistake in Contractual Relationships

This Skill Bit shows a common mistake, which occurs when both parties share a mistaken belief about a fundamental aspect of a contract. This mistake must not be reflected in the written agreement, relate to a core aspect, be shared equally, involve unallocated risk, and make the contract’s performance impossible, thus potentially voiding the contract.

Duration approx. 3 Min.

Tier: advanced

A part of Common Contractual Mistakes: Prevention and Best Practices course.