Search results
Results From The WOW.Com Content Network
Raffles v Wichelhaus [1864] EWHC Exch J19, often called "The Peerless" case, is a leading case on mutual mistake in English contract law.The case established that where there is latent ambiguity as to an essential element of the contract, the Court will attempt to find a reasonable interpretation from the context of the agreement before it will void it.
Collateral mistakes will not afford the right of rescission. A collateral mistake is one that "does not go to the heart" of the contract. For a mutual mistake to render a contract void, then the item the parties are mistaken about must be material (emphasis added). When there is a material mistake about a material aspect of the contract, the ...
Further behavioral, economic, and social psychology research was done by Todd Rose to demonstrate the interchangeability of the terms pluralistic ignorance and collective illusions. His findings of historical events, scientific studies and social media patterns indicate that by using either term one is saying the same thing.
This can result in more value being applied to an outcome than it actually has. An example of this is the IKEA effect , the tendency for people to place a disproportionately high value on objects that they partially assembled themselves, such as furniture from IKEA , regardless of the quality of the end product.
Psychological contract formation is a process whereby the employer and the employee or prospective employee develop and refine their mental maps of one another. According to the outline of phases of psychological contract formation, the contracting process begins before the employment itself and develops throughout the course of employment.
Meeting of the minds (also referred to as mutual agreement, mutual assent, or consensus ad idem) is a phrase in contract law used to describe the intentions of the parties forming the contract. In particular, it refers to the situation where there is a common understanding in the formation of the contract.
Walker, 66 Mich. 568, 33 N.W. 919 (Mich. 1887), [1] was a case that has played an important role in the evolution of American contract law involving the doctrine of mutual mistake. One of the main issues in the case was whether the remedy of rescission is available if both parties to a contract share a misunderstanding about an essential fact ...
Although personality traits and predispositions are considered to be observable facts in psychology, ...