Mutual Mistake - Law Dictionary Search Results
Home Dictionary Name: mutual mistakemutual mistake
mutual mistake see mistake ...
Mistake
Mistake, misconception, error.Money paid under a mistake of a material fact, as where a person discounts a forged bill, is recoverable (though a banker paying the forged cheque of a customer cannot charge the customer with the loss), and see Jones & Co. v. aring & Gillow Ltd., 1926 AC 670; but money paid under a mistake of law is ordinarily not recoverable, Holt v. Markham, (1923) 1 KB 504, though there is an exception in the case where an officer of a Court or a trustee in bankruptcy has received the money [Ex P. Simmonds, (1885) 16 QBD 308]. A contract is not voidable because it was caused by a mistake as to any law in force in India; but a mistake as to a law in force in India has the same effect as a mistake of fact. (The Indian Contract Act, 1872, s. 21)It is a common condition of the sale of land that any error or misdescription shall not vitiate the sale, and mayor may not be made the subject of compensation, and this condition applies whether an error complained of was discover...
mistake
mistake 1 : an unintentional error esp. in legal procedure or form that does not indicate bad faith and that commonly warrants excuse or relief by the court [the court's power to revise a judgment because of fraud, , or irregularity] [a clerical ] 2 : an erroneous belief: as a : a state of mind that is not in accordance with the facts existing at the time a contract is made and that may be a ground for the rescission or reformation of the contract b : a misconception at the time of an offense alleged by a defendant mistake of fact 1 : a mistake regarding a fact or facts esp. that significantly affects the performance of a contract 2 : a criminal defense that attempts to eliminate culpability on the ground that the defendant operated from an unintentional misunderstanding of fact rather than from a criminal purpose mistake of law : a mistake involving the misunderstanding or incorrect application of law in regard to an act, contract, transaction, determination, or state of aff...
Consideration
Consideration. Any act of the promisee (the person claiming the benefit of an obligation) from which the promisor (the person burdened with the obligation) or a stranger derives a benefit or advantage, or any labour detriment or inconvenience sustained or suffered by the promisee at the request, express or implied, of the promisor. See Laythoarp v. Bryant, 3 Scott 250; 2 Wms. Saund 137 h; Currie v. Misa, (1875) LR 10 Exch 153.Consideration is one of the facts which the courts require as evidence of intention, (a) that a person intends his promise to be binding on him, or (b) that he intends to divest himself of a beneficial interest in property. In its widest sense consideration is the price, motive or inducement for a promise or for a transfer of property from one person to another. The nature or quality of the consideration which will be sufficient for these purposes varies with the nature of the transaction and in the absence of consideration the Courts will, except in the case of s...
Mistake apparent on the record
Mistake apparent on the record, A 'mistake apparent on the record' must be an obvious and patent mistake and not something which can be established by a long drawn process of reasoning on points on which there may conceivably be two opinions. A decision on a debatable point of law is not a mistake apparent from the record. The power of the officers mentioned in s. 154 of the Income-tax Act, 1961 to correct 'any mistake apparent from the record' is undoubtedly not more than of the High Court to entertain a writ petition on the basis of an 'error apparent on the face of the record', T.S. Balram, Income Tax Officer v. M/s. Volkart Brothers, AIR 1971 SC 2204 (2206): (1971) 2 SCC 526: (1972) 1 SCR 30. (Income-tax Act, 1961, s. 154)(ii) For finding out whether there is a mistake apparent on the record, the authority has to look to the amended law and not to the law that was in force at the time the original order was made, Commercial Tax Officer v. Shri Venkateswara Oil Mills, AIR 1973 SC 13...
Mutual account
Mutual account, a 'mutual account' means not merely where one of the parties has received money and paid it on account of the other, but where each of the two parties has received and paid on the other's account. Transactions creating obligations on one side, those on the other being merely complete or partial discharges thereof, are not enough to constitute mutual account. The account is not rendered 'mutual' by the mere shifting of the balance on same occasions....
Mutual dealing
Mutual dealing, Mutual Credit or mutual dealings under s. 46, Provincial Insolvency Act, means reciprocal demands which must be naturally terminated in a debt. In a case where there are reciprocal demands available by one party against the other in the same capacity, it is a clear case of mutual dealings, in which a set-off is a matter of course, H. Naik v. Panchanan Das, ILR 1952 Cut 307; see also Aiyar's Judicial Dictionary, 11th Edn., 1992, p. 782....
mistake of fact
mistake of fact see mistake ...
mistake of law
mistake of law see mistake ...
unilateral mistake
unilateral mistake see mistake ...
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