38. Effect of third party rights.

The court will not intervene to set aside a transaction or to rectify a document on the ground of mistake as against a third party who has become a purchaser for value of a legal estate or interest without notice1. For this purpose, the assignee of a lease who assumes liability for the tenant's covenants and gives an indemnity to him for their due performance is a purchaser for value2. On the other hand a claim to rescind or to rectify for mistake is not defeated by a volunteer who acquires a legal (or equitable) interest, even without notice3.

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