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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This Practice Note considers the legal concept of mistake in contract law. It examines common mistake, mutual mistake, unilateral mistake, mistake as to identity and mistake as to the document signed (non est factum). It also considers the impact of each of these types of mistake on the contract and
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