Assent and Form
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A valid contract may still be unenforceable if the parties have not genuinely assented to its terms. A lack of genuine assent is a defense to the enforcement of a contract. If the law were to enforce contracts not genuinely assented to by the contracting parties, injustice would result. A contract that is otherwise valid may also be unenforceable if it is not in the proper form. If, for instance, a contract is required by law to be in writing and there is no written evidence of the contract, it may not be enforceable.
The genuineness of assent may be lacking because of mistake, fraudulent, misrepresentation, undue influence, or duress. Generally, a party who demonstrates that he or she did not genuinely assent to the terms of a contract can choose either to carry out the contract or to rescind it, and thus avoid the entire transaction.
In certain circumstances, contract law allows a contract to be avoided on the basis of mistake. In contract law, courts have a difficult time in specifying the circumstances that justify allowing a mistake to invalidate a contract. Generally, courts distinguish between mistakes as to judgment of market value or conditions and mistakes as to fact...