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LSDefine

Simple English definitions for legal terms

basic mistake

Read a random definition: Secretary of Commerce

A quick definition of basic mistake:

A basic mistake is when someone has an incorrect belief about something important in a contract or transaction. This mistake can be about a fact or the law. If the mistake is serious enough, it can make the agreement invalid. A basic mistake can be made by one person or both people involved in the contract.

A more thorough explanation:

A basic mistake is an error, misconception, or misunderstanding that forms the basis of a transaction. It can be a mistake of fact or law and can be made by one or both parties to a contract. If the mistake is serious enough, it can render the contract voidable.

  • Party A sells a car to Party B, believing it to be in good working condition. However, the car has a major mechanical issue that Party A was unaware of. This is a mistake of fact and could be grounds for Party B to void the contract.
  • Party A and Party B enter into a contract, but Party A misunderstands the legal implications of a key term. This is a mistake of law and could be grounds for Party A to void the contract.

These examples illustrate how a basic mistake can affect the validity of a contract. If one party is operating under a mistaken belief, it can undermine the mutual understanding necessary for a contract to be enforceable.

basic-form policy | basic norm

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[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
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