BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -The Latin maxim ignorantia juris non excusat means that ignorance of the law is no excuse. Therefore under section 21 of the Indian Contract Act, 1872, a contract cannot be said to be voidable due to the mistake of the parties in understanding any laws that are in force in India.

Detailed explanation-2: -A mistake of India law if is regarded as a valid contract since ignorance of the law is not a good enough excuse. But a mistake of foreign law is considered as a mistake of fact, and if such a mistake is bilateral it will lead to a void contract.

Detailed explanation-3: -Section 21 of the Indian Contract Act, 1872 states that a contract is not voidable if it has been induced by a mistake of law in force in India at the time of entering into the contract.

Detailed explanation-4: -Mistake of Law means any contract which is performed by parties without knowing the law (or by ignoring the law), which is essential for that contract. Section 21 of the Indian Contract Act deals with ‘effect of mistake as to law’.

Detailed explanation-5: -A mutual mistake negates consent and therefore no agreement is said to have been formed at all. A unilateral mistake is where only one party is mistaken and the other party knows about it and takes advantage of the error. A unilateral mistake also negates consent and the existence of an agreement.