Business / Real Estate / Mistake: An error or misunderstanding. A contract is voidable if there is a mistake that is mutual, material, unintentional and free from negligence, such as both parties honestly contracting for a different lot in a subdivision (mistake of fact). Innocent mistakes seldom serve to void a contract. A party cannot claim mistake to get out of a contract on the basis that he or she did not read the contract he or she signed and was therefore mistaken as to its material terms, neither ignorance nor poor judgment is a mistake of fact. Nor can a party claim mistake in not knowing the legal consequences upon signing the contract (mistake of law). When there is an ambiguity known by one party who fails to explain the mistake to the innocent party, the innocent partys interpretation generally will prevail.
Mistake Noun Synonyms: misconception, misapprehension, error, fault, miscalculation, misjudgement, blunder, botch, fumble, bad move, misstep, slip, erratum, gaffe, faux pas, boo-boo, clanger, muff, howler, boob, bloomer, blooper, goof, goof-up, flub
Mistake Verb Synonyms: indiscretion, misstep, false step, wrong move
Business / Real Estate / Closing Statement: A detailed cash accounting of a real estate transaction showing all cash received, all charges and credits made and all cash paid out in the transaction. MORE
Science / Weather / Virga: Streaks or wisps of precipitation, such as water or ice particles, that fall from clouds but evaporate before reaching the ground. From a distance, the event sometimes may be mistaken for a funnel clo MORE