Common mistake voids a contract only if the shared assumption is so fundamental as to render performance impossible; no separate equitable jurisdiction to rescind for common mistake exists (overruling Solle v Butcher).
contract
On termination of a building contract, a builder may recover reasonable value of work done in restitution, subject to the contract price as a ceiling where work was performed under a valid contract.
Bank late payment fees are not penalties where they represent a genuine pre-estimate of loss or protect a legitimate interest of the stipulating party.
High Court of Australia examined the principles governing rectification of written contracts for common intention and unilateral mistake in equity.
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