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Part IV Validity, 19 Consequences of Mistake, Fraud, and Duress

From: Global Sales and Contract Law (2nd Edition)

Ingeborg Schwenzer, Edgardo Muñoz

Content type:
Book content
Product:
International Commercial Law [ICML]
Published in print:
14 June 2022
ISBN:
9780198871255

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2023. All Rights Reserved.date: 30 May 2023

Subject(s):
Construction of contract — Formation of contract — Illegality and contract — Interpretation of contract — Termination/unwinding of contract — Validity of contract

This chapter notes the consequences of mistake, fraud, and duress in contracts. The principal remedy for mistake, fraud, and duress is similar which is the victim’s right to render the contract void ab initio. Unlike fraud and duress, remedies for mistakes can be contractually waived in many legal systems. The chapter clarifies the right to rescind should not be confused with the right to avoid being accosted with a breach of contract. Moreover, rescission is subject to confirmation and expiration of time. The chapter also explains the process of restitution. It highlights the importance of checking the damage following the deed.

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