Will A Mistake In A Party’s Name Prevent Enforcement Of Florida Contracts?

Will A Mistake In A Party’s Name Prevent Enforcement Of Florida Contracts?

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All businesses inherently deal with contracts, even if they are unwritten, as with many transactions involving goods or services. Since a contract is a legally binding agreement, and even an honest contractual mistake can cause serious problems, it is crucial that small business owners have at least a basic understanding of contract law.

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Mistake can be- (1) Mistake of Law; or (2) Mistake of Fact Mistake of law: when a party enters into a contract, without the knowledge of the law in the country, the contract is affected by such mistakes but it is not void. The reason here is that ignorance of law is not an excuse.

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Sometimes a contract is unenforceable not because of purposeful bad faith by one party, but due to a mistake on the part of one party (called a "unilateral mistake") or both parties (called a "mutual mistake").

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However, if the non-mistaken party caused the mistake, or knew the other party was making a mistake and didn’t help correct it, the court will probably not enforce the contract. If the only mistake made is in writing down a term or terms, a court may allow the mistake to be corrected. This is called "reformation."

2006 Oklahoma Code – Title 15. – Contracts. OKLAHOMA STATUTES. TITLE 15. CONTRACTS. Writing prevented by fraud Enforcement against fraudulent party.. except where a thing is obtained by mutual mistake, in which case the party obtaining the thing is not bound to return it until he has.

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