The nature of an agreement made under the provisions of

Solution

S. 20. Agreement void where both parties are under mistake as to matter of fact.— Where both the parties to an agreement are under a mistake as to a matter of fact essential to the agreement the agreement is void. Explanation.—An erroneous opinion as to the value of the thing which forms the subject-matter of the agreement, is not to be deemed a mistake as to a matter of fact.   ·         Void- null not having any force or validity. ·         Voidable- can become valid at the option of parties. ·         Valid- having force of law.